Star Bulk Announces Completion of Its Follow - On Offering Including Exercise of Underwriters' Option to Purchase Additional

Star Bulk Announces Completion of Its Follow - On Offering Including Exercise 
of Underwriters' Option to Purchase Additional Common Shares 
ATHENS, GREECE -- (Marketwired) -- 10/07/13 --  Star Bulk Carriers
Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK) today closed its
previously announced public offering, issuing 8,050,000 new common
shares, including 1,050,000 common shares sold pursuant to the
exercise in full of the underwriters' option to purchase additional
common shares. Gross proceeds of the offering were approximately
$70.8 million, inclusive of $9.2 million gross proceeds from the
exercise of the underwriters' option to purchase additional common
shares. Following this offering, the Company has 29,059,671 common
shares issued and outstanding. 
Certain of the Company's largest shareholders, namely investment
funds managed by Oaktree Capital Management L.P., investment funds
managed by Monarch Alternative Capital LP, and Blueshore Global
Equity Fund L.P. participated in the follow - on offering at the
public offering price. Star Bulk intends to use the net proceeds from
the offering to partially fund the acquisition of nine identified
newbuilding drybulk vessels, future vessel acquisitions and general
corporate purposes, including working capital. 
Morgan Stanley & Co. LLC acted as the sole book-running manager for
the offering. Evercore Group L.L.C., Global Hunter Securities, LLC,
Pareto Securities and Stifel, Nicolaus & Company acted as co-managers
for the offering. 
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities and shall not constitute
an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale is unlawful. The offering was made only
by means of a prospectus and related prospectus supplement. A
prospectus supplement related to the offering was filed with the
Securities and Exchange Commission. Copies of the final prospectus
relating to the offering may be obtained from the offices of Morgan
Stanley at 180 Varick Street, Second Floor, New York, New York 10014,
Attention: Prospectus Delivery Department or by email at 
About Star Bulk:
 Star Bulk is a global shipping company providing
worldwide seaborne transportation solutions in the drybulk sector.
Star Bulk's vessels transport major bulks, which include iron ore,
coal and grain and minor bulks which include bauxite, fertilizers and
steel products. Star Bulk was incorporated in the Marshall Islands on
December 13, 2006 and maintains executive offices in Athens, Greece.
Its common stock trades on the Nasdaq Global Select Market under the
symbol "SBLK." Currently, Star Bulk has an operating fleet of
thirteen drybulk carriers. The total fleet consists of five Capesize
and eight Supramax drybulk vessels with a combined cargo carrying
capacity of 1,290,602 deadweight tons (dwt). The average age of our
current operating fleet is approximately 10.7 years. In addition, we
provide vessel management services to nine third-party drybulk
vessels, including four Capesize vessels, three Supramax vessels and
two Panamax vessels. We have entered into agreements for the
construction of seven drybulk vessels each with fuel efficient
specifications, including two 208,000 dwt Newcastlemax drybulk
vessels with expected deliveries during the first half of 2016,
respectively, one 209,000 dwt Newcastlemax drybulk vessel with an
expected delivery during the first quarter of 2016, two 180,000 dwt
Capesize drybulk vessels with expected deliveries in the fourth
quarter of 2015 and first quarter of 2016, respectively and two
61,000 dwt Ultramax drybulk vessels with expected deliveries during
the fourth quarter of 2015. In addition, we have entered into letters
of intent for the construction of two 60,000 dwt Ultramax drybulk
vessels with fuel efficient specifications with expected deliveries
in 2015. 
Forward-Looking Statements
 Matters discussed in this press release
may constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to provide
prospective information about their business. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions
and other statements, which are other than statements of historical
The Company desires to take advantage of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995 and is
including this cautionary statement in connection with this safe
harbor legislation. The words "believe," "anticipate," "intends,"
"estimate," "forecast," "project," "plan," "potential," "may,"
"should," "expect," "pending" and similar expressions identify
forward-looking statements.  
The forward-looking statements in this press release are based upon
various assumptions, many of which are based, in turn, upon further
assumptions, including without limitation, examination by the
Company's management of historical operating trends, data contained
in its records and other data available from third parties. Although
the Company believes that these assumptions were reasonable when
made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to
predict and are beyond the Company's control, the Company cannot
assure you that it will achieve or accomplish these expectations,
beliefs or projections.  
In addition to these important factors, other important factors that,
in the Company's view, could cause actual results to differ
materially from those discussed in the forward-looking statements
include the strength of world economies and currencies, general
market conditions, including fluctuations in charter rates and vessel
values, changes in demand for drybulk shipping capacity, changes in
the Company's operating expenses, including bunker prices, drydocking
and insurance costs, the market for the Company's vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential disruption
of shipping routes due to accidents or political events, vessel
breakdowns and instances of off-hires and other factors. Please see
our filings with the Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The
information set forth herein speaks only as of the date hereof, and
the Company disclaims any intention or obligation to update any
forward-looking statements as a result of developments occurring
after the date of this communication. 
Simos Spyrou
Star Bulk Carriers Corp.
c/o Star Bulk Management Inc.
40 Ag. Konstantinou Av.
Maroussi 15124
Athens, Greece 
Investor Relations / Financial Media:
Nicolas Bornozis
Capital Link, Inc.
230 Park Avenue, Suite 1536
New York, NY 10169
Tel. (212) 661-7566
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