Star Bulk Takes Delivery of its First Capesize Newbuilding, Star Borealis
News Release
Star Bulk Carriers Corp.
September 12, 2011
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<DIV><STRONG>ATHENS, GREECE, September 12, 2011</STRONG> - Star Bulk Carriers
Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that it has
taken delivery of the Star Borealis, a 179,678 dwt Capesize newbuilding. The
Star Borealis is the first of two vessels to be delivered to the Company from
HHIC-Phil Inc., a subsidiary of Hanjin Heavy Industries and Construction Co.
Ltd. The vessel was delivered to its charterer, STX Panocean, and commenced a
10-year time charter at a gross daily rate of $24,750. <BR><BR>Spyros Capralos,
President and CEO of Star Bulk, commented: <I>"We are pleased to take delivery
of the Star Borealis, which has commenced a 10-year time charter. We believe
that this long-term time charter increases our future charter coverage and
revenue visibility. We remain committed to making prudent and accretive
acquisitions and increasing shareholder value."</I> <BR></DIV></BODY></HTML>
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<DIV><STRONG>ATHENS, GREECE, September 12, 2011</STRONG> - Star Bulk Carriers
Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that it has
taken delivery of the Star Borealis, a 179,678 dwt Capesize newbuilding. The
Star Borealis is the first of two vessels to be delivered to the Company from
HHIC-Phil Inc., a subsidiary of Hanjin Heavy Industries and Construction Co.
Ltd. The vessel was delivered to its charterer, STX Panocean, and commenced a
10-year time charter at a gross daily rate of $24,750. <BR><BR>Spyros Capralos,
President and CEO of Star Bulk, commented: <I>"We are pleased to take delivery
of the Star Borealis, which has commenced a 10-year time charter. We believe
that this long-term time charter increases our future charter coverage and
revenue visibility. We remain committed to making prudent and accretive
acquisitions and increasing shareholder value."</I> <BR></DIV></BODY></HTML>