Let us now turn to slide number three of the presentations to discuss the important financial data. On this slide, we’ll present certain key data to illustrate why we continue to believe that while Star Bulk continues to enjoy a very comfortable financial position, it remains substantially undervalued. As of May 12 th our minimum total growth contracted revenue including our two newly, to be acquired capes is approximately $245 million and our market capitalization stands at $146 million.Our senior debt currently stand at about $225 million and our current cash position is approximately $41 million. I would like to reiterate that Star Bulk has reduced its exposure to interest rate swaps and have therefore taken the full benefit in the prevailing low interest rates. We are also very pleased with the fact that our principal repayment commitments for this year are down substantially compared to last year since our loan repayment schedules were intentionally designed to be front-loaded.
Star Bulk Carriers CEO Discusses Q1 2011 Results - Earnings Call Transcript
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