Star Bulk Announces the Acquisition of Two Modern Ultramax Vessels

Star Bulk Announces the Acquisition of Two Modern Ultramax Vessels 
ATHENS, GREECE -- (Marketwired) -- 11/18/13 --  Star Bulk Carriers
Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK),a global shipping
company focusing on the transportation of dry bulk cargoes, today
announced that it has entered into definitive agreements to acquire
two modern Ultramax bulk carriers, the M/V "Supra Challenger I" and
M/V "Supra Challenger II", from an unaffiliated third party for an
aggregate total consideration of $58.1 million. 
The vessels have a carrying capacity of 61,462 deadweight tons each
and were built in Japan by Imabari Shipbuilding Group, in November of
2012 and September of 2013 respectively. The vessels, to be renamed
"Star Challenger" and "Star Fighter", are expected to be delivered to
Star Bulk in early December 2013 and by January 15th, 2014
Upon completion of the acquisition, Star Bulk will own 15 dry bulk
vessels, consisting of 5 Capesize vessels, 2 Ultramax and 8 Supramax
vessels with average age of 9.5 years. The Company also has a total
of 9 vessels under order at high quality shipyards in Japan and
China, consisting of 3 Newcastlemax, 2 Capesize and 4 Ultramax
vessels with fuel-efficient specifications, with expected deliveries
in 2015 and early 2016. 
The Company plans to finance this acquisition in part through cash on
hand and in part through commercial bank debt financing. The Company
is currently in discussions with several major lending institutions
to secure commercial bank debt financing for the two vessels. 
Spyros Capralos, President and CEO of Star Bulk, commented: "It is
with great pleasure to announce one more step of the continuing
transformation of Star Bulk, started in last July. The two vessels we
acquired are considered among the top vessels in their class, as they
are built by one of the best shipyards in the world, have average age
below one year, high specifications and increased cargo capacity
compared to the standard Supramax vessels. Upon full delivery of our
9 newbuildings we will have a total of 24 owned vessels in the water,
representing more than 100% growth on deadweight tonnage basis. We
remain committed in executing our growth strategy, and we believe
that this accretive acquisition will immediately enhance our cash
flow generation capacity and contribute to the long - term value
creation for our shareholders." 
About Star Bulk
 Star Bulk is a global shipping company providing
worldwide seaborne transportation solutions in the dry bulk 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". Including the two newly acquired vessels, Star Bulk
owns a fleet of fifteen dry bulk carriers consisting of five
Capesize, two Ultramax and eight Supramax dry bulk vessels with a
combined cargo carrying capacity of approximately 1,413,525
deadweight tons (dwt) and an average age of approximately 9.5 years.
In addition, we provide vessel management services to nine
third-party dry bulk vessels, including four Capesize, two Panamax
and three Supramax vessels. We have entered into agreements for the
construction of nine dry bulk vessels each with fuel efficient
specifications, including two 208,000 dwt Newcastlemax dry bulk
vessels with expected deliveries during the first half of 2016, one
209,000 dwt Newcastlemax dry bulk vessel with an expected delivery
during the first quarter of 2016, two 180,000 dwt Capesize dry bulk
vessels with expected deliveries in the fourth quarter of 2015 and
first quarter of 2016 respectively, two 61,000 dwt Ultramax dry bulk
vessels with expected deliveries during the fourth quarter of 2015
and two 60,000 dwt Ultramax dry bulk vessels with expected deliveries
in the second quarter of 2015 and the third quarter of 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 dry bulk 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, vessels
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 Ave.
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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