SOURCE: Capital Link Shipping

January 29, 2008 14:48 ET

4th Dry Bulk Sector CEO Forum

Organized in Cooperation With NASDAQ® CEOs of DryShips, Quintana Maritime, Star Bulk Carriers and TBS International to Discuss Developments of the Dry Bulk Shipping Sector, Wednesday, January 30, 2008, 11:00 am EST / 4:00 pm GMT; Access Only Through a Live Audio Webcast at www.capitallinkwebcasts.com

NEW YORK, NY--(Marketwire - January 29, 2008) - The CEOs of

--  DryShips (NASDAQ: DRYS), George Economou,
--  Quintana Maritime (NASDAQ: QMAR),
    Stamatis Molaris
--  Star Bulk Carriers Corp. (NASDAQ: SBLK), Akis Tsirigakis and
--  TBS International (NASDAQ: TBSI), Joseph Royce
    

will participate in a Virtual Panel discussion on the dry bulk shipping sector on Wednesday, January 30, 2008 at 11:00 am EST.

The Dry Bulk CEO Virtual Forum is organized by Capital Link, a New York-based Investor Relations and Financial Communications firm with strategic focus on shipping, in cooperation with NASDAQ International.

ACCESS TO THE DISCUSSION

The panel discussion can be accessed only through a live audio webcast at www.capitallinkwebcasts.com. It can also be accessed through the websites of the individual companies at www.dryships.com, www.quintanamaritime.com, www.starbulk.com and www.tbsship.com.

Participants to the live webcast should register on the website approximately ten minutes prior to the start of the webcast. Please go to www.capitallinkwebcasts.com to register and access the event.

The panel discussion will remain archived and accessible through the websites of Capital Link, DryShips, Quintana Maritime, Star Bulk and TBSI International, as indicated above.

PANEL STRUCTURE

The focus of the discussion (and the Q&A) will be only on sector trends and fundamentals, and not on company specifics or company recommendations. The discussion will cover four topics: demand, supply, freight rates and asset values, valuations, focusing on current trends and the sector's outlook.

QUESTIONS FROM PARTICIPANTS

Participants can submit questions to the analysts prior to or during the event through the special event page at www.capitallinkwebcasts.com.

TRANSCRIPT

A transcript of the panel discussion will be publicly available within approximately 48 hours after the event and those interested can request it when they register for the event or afterwards through the event page at www.capitallinkwebcasts.com, or www.capitallinkshipping.com.

About Dry Bulk Shipping:

International shipping plays a vital role in global trade given that 2/3 of the world's goods are transported by sea. The shipping industry provides a cost-effective and practical means of transportation internationally of large volumes of cargoes.

The dry bulk carrier market refers to the transportation of homogeneous commodities in bulk. Dry bulk commodities are divided into two distinct categories, major bulks and minor bulks. Major bulks include iron ore, coal and grain, which are usually shipped on the larger size Capesize, Kamsarmax and Panamax vessels and comprise about 67% of dry bulk trade. Minor bulks are fertilizers, steels, sugars, cement etc., which are shipped in smaller more versatile vessels such as Supramax, Handymax and Handysize, and comprise about 33% of the dry bulk commodities trade.

Dry bulk carrier ownership is fragmented with many owners and operators of shipping tonnage, including independent operators, state-controlled shipping companies and proprietary owners. Vessels utilised for transport of dry bulk cargoes are usually classified into four categories based on their carrying capacity in deadweight tons (DWT) (i) handysize (10,000-39,999 DWT) (ii) handymax/supramax (40,000-59,999 DWT) (iii) panamax (60,000-99,999 DWT) and (iv) capesize (higher than 100,000 DWT).

The shipping industry is highly cyclical, experiencing volatility in profitability, vessel values and charter rates resulting from changes in the supply of and demand for shipping capacity. Fluctuations result from the interaction of various factors between demand and supply. The demand for vessels is influenced by global and regional economic conditions, international trade developments, port congestion, trading routes and weather pattern changes, crop yields, armed conflicts, political developments, embargoes and strikes, demand for consumer goods, dry bulk commodities, and crude oil and oil products.

Supply of shipping capacity is mainly a function of the delivery of new vessels and the number of older vessels scrapped and is also affected among other factors by port congestion and regulation of maritime transportation practices by governmental and international authorities.

About DryShips Inc.

DryShips Inc., based in Greece, is an owner and operator of drybulk carriers that operate worldwide. As of the day of this release, DryShips owns a fleet of 46 drybulk carriers comprising 5 Capesize, 30 Panamax, 2 Supramax, 1 Handymax, and 8 newbuilding drybulk vessels, with a combined deadweight tonnage of over 4 million tons. DryShips Inc.'s common stock is listed on the NASDAQ Global Market where it trades under the symbol "DRYS." For more information on DryShips please visit the company's website at www.dryships.com.

About Quintana Maritime Limited

Quintana, based in Greece, is an international provider of dry bulk cargo marine transportation services. Quintana currently owns a fleet of 22 vessels and, together with 7 Panamax vessels under bareboat charters, operates 29 vessels (14 Kamsarmax, 11 Panamax and 4 Capesize vessels) with a total carrying capacity of 2,644,043 DWT tons. The DWT weighted average age of vessels Quintana owns is 3.2 years. In addition, Quintana has ordered 8 Capesize newbuilding vessels, one of which will be wholly owned and the remaining seven of which will be partially owned through joint ventures. Once all acquisitions and newbuilding orders are completed and assuming no vessel disposals, Quintana will operate a fleet of 37 dry bulk vessels (14 Kamsarmax, 11 Panamax and 12 Capesize vessels) with a total capacity of 4,086,043 DWT. For more information about Quintana, please go to its corporate website www.quintanamaritime.com.

About Star Bulk Carriers Corp.

Star Bulk Carriers 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 such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and is headquartered in Athens, Greece. Its common stock and warrants trade on the NASDAQ Global Market under the symbols "SBLK" and "SBLKW" respectively. Currently, Star Bulk has an operating fleet of eight dry bulk carriers, plus definitive agreements to acquire a further two dry bulk carriers. The total fleet consists of three Capesize, one Panamax and six Supramax dry bulk vessels with an average age of approximately 11 years and a combined cargo carrying capacity of 927,759 deadweight tons. For more information about Star Bulk Carriers, please go to its corporate website www.starbulk.com.

About TBS International Limited

TBS is an ocean transportation services company that offers worldwide shipping solutions through liner, parcel and bulk services, and vessel chartering. TBS has developed its business around key trade routes between Latin America and China, Japan and South Korea, as well as select ports in North America, Africa, the Caribbean and the Mediterranean. TBS provides frequent regularly scheduled voyages in its network, as well as cargo scheduling, loading and discharge for its customers. For more information about TBS International, please go to its corporate website www.tbsship.com.

About Capital Link and www.capitallinkshipping.com:

Capital Link is a New York-based Investor Relations and Financial Communications firm with a strategic focus on shipping. Capital Link Shipping is a web based resource operated by Capital Link whose objective is to facilitate investor knowledge and understanding of shipping and its listed companies, and to facilitate the exchange of information among listed companies, industry participants and investors. The site provides information on the major shipping and stock market indices, as well as on all shipping stocks. It also features industry reports from major industry participants and interviews with CEOs, analysts and other market participants.

The information on the website is not an offer to buy or sell any kind of securities nor does it constitute investment advice of any kind. Capital Link does not represent or warrant the accuracy of the information in this site. The user of the site acknowledges that he/she accesses the information at his/her own risk and cannot hold Capital Link liable for any matter in any way and will use the website in accordance with the Terms and Conditions specified on the website.

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