Star Bulk(US:SBLK) Seeking Alpha·2025-09-29 17:17Core Insights - The company reported a strong performance in the first half of the year, with a 9% sequential increase in unit volumes driven by underlying demand growth from both existing and new OEM customers [2] - There was an 8% sequential increase in direct unit sales and a 27% increase in direct revenue, indicating the effectiveness of the strategy to transition large OEM customers to the direct channel [3] - The product mix improved compared to the second half of the previous year, contributing to a 19% sequential increase in adjusted EBITDA [4] Financial Performance - The company experienced a normalized channel inventory position, contrasting with the heavy inventory issues that negatively impacted performance in the second half of last year [2] - Despite a dynamic tariff environment affecting sales into the U.S., there has been no significant evidence of impact on demand from U.S. OEM or consumer customers [4] Strategic Outlook - The company views the current market conditions as a significant source of opportunity for medium to long-term growth [5]