STAR BULK REDEPLOYS THE STAR SIGMA
News Release
Star Bulk Carriers Corp.
January 9, 2012
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<P style="MARGIN: 0in 0in 12pt" class=MsoBodyText><B><SPAN
style="COLOR: black; mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">ATHENS,
GREECE, January 9, 2012 - </SPAN></B><SPAN
style="COLOR: black; mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">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 </SPAN><SPAN
style="mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">that the vessel
Star Sigma ("Star Sigma”), which was time chartered to Pacific Bulk Shipping
Ltd. of Hong Kong ("Pacific Bulk”) until October 2013 at a gross daily rate of
$38,000, was redelivered to the Company. Pacific Bulk has agreed to pay the
Company a lump sum of $5.734 million in cash for the early redelivery of this
vessel. The Company received a cash installment of $3.5 million on January 5,
2012 and the remaining balance of $2.234 million is scheduled to be paid by
Pacific Bulk on/or about January 20, 2012. In addition to the lump sum payment,
Pacific Bulk supplied Star Sigma with 1,027 metric tons of fuel, valued
approximately $0.7 million.<?xml:namespace prefix = o ns =
"urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 12pt" class=MsoBodyText><SPAN
style="mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">Following its
redelivery to the Company, the Star Sigma was employed in the spot market under
a voyage charter, at a gross daily time charter equivalent rate of approximately
$29,400, and is expected to complete its voyage in early April
2012.<o:p></o:p></SPAN></P></DIV></BODY></HTML>
<HTML><HEAD><TITLE></TITLE>
<META content="text/html; charset=unicode" http-equiv=Content-Type>
<META name=GENERATOR content="MSHTML 8.00.6001.18904"></HEAD>
<BODY>
<DIV>
<P style="MARGIN: 0in 0in 12pt" class=MsoBodyText><B><SPAN
style="COLOR: black; mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">ATHENS,
GREECE, January 9, 2012 - </SPAN></B><SPAN
style="COLOR: black; mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">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 </SPAN><SPAN
style="mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">that the vessel
Star Sigma ("Star Sigma”), which was time chartered to Pacific Bulk Shipping
Ltd. of Hong Kong ("Pacific Bulk”) until October 2013 at a gross daily rate of
$38,000, was redelivered to the Company. Pacific Bulk has agreed to pay the
Company a lump sum of $5.734 million in cash for the early redelivery of this
vessel. The Company received a cash installment of $3.5 million on January 5,
2012 and the remaining balance of $2.234 million is scheduled to be paid by
Pacific Bulk on/or about January 20, 2012. In addition to the lump sum payment,
Pacific Bulk supplied Star Sigma with 1,027 metric tons of fuel, valued
approximately $0.7 million.<?xml:namespace prefix = o ns =
"urn:schemas-microsoft-com:office:office" /><o:p></o:p></SPAN></P>
<P style="MARGIN: 0in 0in 12pt" class=MsoBodyText><SPAN
style="mso-ansi-language: EN-US; mso-bidi-font-size: 11.0pt">Following its
redelivery to the Company, the Star Sigma was employed in the spot market under
a voyage charter, at a gross daily time charter equivalent rate of approximately
$29,400, and is expected to complete its voyage in early April
2012.<o:p></o:p></SPAN></P></DIV></BODY></HTML>