Star Bulk Charters Two Fuel Efficient Newbuilding Newcastlemax Vessels Under Ten Year Bareboat Charters With Purchase

Star Bulk Charters Two Fuel Efficient Newbuilding Newcastlemax Vessels Under 
Ten Year Bareboat Charters With Purchase Obligation 
ATHENS, GREECE -- (Marketwired) -- 02/26/14 --   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 agreements (the "Bareboat
Charters") with CSSC (Hong Kong) Shipping Company Limited ("CSSC"),
an affiliate of Shanghai Waigaoqiao Shipbuilding Co. Ltd of China
("SWS") to bareboat charter, two fuel efficient Newcastlemax dry bulk
vessels, hull numbers 1372 and 1371 (collectively, the "CSSC
Vessels") each with a cargo carrying capacity of 208,000 deadweight
tons, which are currently under order at SWS, at a monthly hire rate
for each CSSC vessel ranging between $371,000 to $410,800 plus LIBOR.
The Bareboat Charters have a 10-year term and are expected to
commence when the vessels are delivered to Star Bulk, which is
scheduled for November 2015 and February 2016, respectively.  
Under the terms of the Bareboat Charters, Star Bulk is required to
pay CSSC $11.3 million and $11.8 million, representing the 20% of the
construction price of $56.5 million for Hull 1372 and $59.0 million
for Hull 1371 respectively (collectively "Construction Prices"). The
upfront hires for each CSSC Vessel will be paid in two equal
installments for each CSSC vessel, the first of which shall be due
shortly and the second installment shall be due upon the completion
of the steel-cutting stage of the construction of each CSSC Vessel. 
Under the terms of the Bareboat Charters, Star Bulk has options to
purchase the CSSC Vessels at any time, which are exercisable monthly,
against a predetermined, amortizing balance payment whilst it has a
respective obligation at the expiration of the bareboat term. Upon
the earlier of the exercise of the purchase options or the expiration
of the Bareboat Charters, Star Bulk will own the CSSC Vessels.  
This structure effectively allows the Company to acquire the CSSC
Vessels, upon the completion of the Bareboat Charters, with the
equivalent of 80% debt financing as a percentage of the Construction
Prices in the preceding paragraph. 
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 Market under the symbol
"SBLK". Following the delivery of the newly acquired vessel, the M/V
Star Sirius, Star Bulk will own a fleet of seventeen dry bulk
carriers, consisting of five Capesize, two Post Panamax, two Ultramax
and eight Supramax dry bulk vessels with a combined cargo carrying
capacity of 1,610,935 deadweight tons and an average age of
approximately 8.9 years. In addition, Star Bulk provides vessel
management services to fourteen third party dry bulk vessels,
including five Capesize, two Post Panamax, two Kamsarmax, two Panamax
and three Supramax vessels with a combined cargo carrying capacity of
1,569,255 deadweight tons. Star Bulk has also has entered in
construction contracts for eleven fuel efficient dry bulk newbuilding
vessels, including five Newcastlemax vessels, two Capesize vessels
and four Ultramax vessels, with a combined cargo carrying capacity of
1,643,000 deadweight tons. All of the newbuilding vessels are
expected to be delivered during 2015 and 2016. 
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 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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