SOURCE: Star Bulk Carriers Corp.

Star Bulk Carriers Corp.

July 22, 2015 16:02 ET

Star Bulk Announces the Delivery of Two Newcastlemax and One Ultramax Bulk Carriers and Provides Fleet Status Update

ATHENS, GREECE--(Marketwired - Jul 22, 2015) - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK) today announced that on July 15, 2015 it took delivery of M/V Goliath (ex HN NE 167) and M/V Maharaj (ex HN NE 184), two 209,000 dwt Newcastlemax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. ("NACKS"). In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius (ex HN 5040), a 61,000 dwt Ultramax bulk carrier built by Japan Marine United ("JMU").

Following these deliveries, Star Bulk owns seventy-two dry bulk vessels on the water, consisting of three Newcastlemax, eighteen Capesize, four Post-Panamax, twenty Kamsarmax, seven Panamax, nine Ultramax, ten Supramax vessels and one Handymax vessel, with a total carrying capacity of 7.5 million dwt.

In addition, Star Bulk has twenty-two vessels currently under construction at high quality shipyards in Japan and China, including nine Newcastlemax, six Capesize and seven Ultramax vessels with expected deliveries in 2015 and 2016.

The fleet of the Company is presented in the table below:

Existing On the Water Fleet Profile (As of July 22, 2015)                     

                     
    Vessel Name   Drybulk
Vessel Type
  Capacity
(dwt.)
  Year Built   Date
Delivered
to Star Bulk
1   Goliath   Newcastlemax   209,537   2015   15-Jul-15
2   Gargantua   Newcastlemax   209,529   2015   02-Apr-15
3   Maharaj   Newcastlemax   209,472   2015   15-Jul-15
4   Deep Blue   Capesize   182,608   2015   27-May-15
5   Leviathan   Capesize   182,511   2014   19-Sep-14
6   Peloreus   Capesize   182,496   2014   22-Jul-14
7   Indomitable   Capesize   182,476   2015   08-Jan-15
8   Obelix   Capesize   181,433   2011   11-Jul-14
9   Christine   Capesize   180,274   2010   31-Oct-14
10   Sandra   Capesize   180,274   2008   29-Dec-14
11   Pantagruel   Capesize   180,181   2004   11-Jul-14
12   Star Borealis   Capesize   179,678   2011   09-Sep-11
13   Star Polaris   Capesize   179,600   2011   14-Nov-11
14   Star Angie   Capesize   177,931   2007   29-Oct-14
15   Big Fish   Capesize   177,643   2004   11-Jul-14
16   Kymopolia   Capesize   176,990   2006   11-Jul-14
17   Big Bang   Capesize   174,109   2007   11-Jul-14
18   Star Aurora   Capesize   171,199   2000   08-Sep-10
19   Lowlands Beilun   Capesize   170,162   1999   29-Dec-14
20   Star Eleonora   Capesize   164,218   2001   03-Dec-14
21   Star Monisha   Capesize   164,218   2001   02-Feb-15
22   Amami   Post Panamax   98,681   2011   11-Jul-14
23   Madredeus   Post Panamax   98,681   2011   11-Jul-14
24   Star Sirius   Post Panamax   98,681   2011   07-Mar-14
25   Star Vega   Post Panamax   98,681   2011   13-Feb-14
26   Star Angelina   Kamsarmax   82,981   2006   05-Dec-14
27   Star Gwyneth   Kamsarmax   82,790   2006   05-Dec-14
28   Star Kamila   Kamsarmax   82,769   2005   03-Sep-14
29   Pendulum   Kamsarmax   82,619   2006   11-Jul-14
30   Star Maria   Kamsarmax   82,598   2007   05-Nov-14
31   Star Markella   Kamsarmax   82,594   2007   29-Sep-14
32   Star Danai   Kamsarmax   82,574   2006   21-Oct-14
33   Star Georgia   Kamsarmax   82,298   2006   14-Oct-14
34   Star Sophia   Kamsarmax   82,269   2007   31-Oct-14
35   Star Mariella   Kamsarmax   82,266   2006   19-Sep-14
36   Star Moira   Kamsarmax   82,257   2006   19-Nov-14
37   Star Nina   Kamsarmax   82,224   2006   05-Jan-15
38   Star Renee   Kamsarmax   82,221   2006   19-Dec-14
39   Star Nasia   Kamsarmax   82,220   2006   29-Aug-14
40   Star Laura   Kamsarmax   82,209   2006   09-Dec-14
41   Star Jennifer   Kamsarmax   82,209   2006   15-Apr-15
42   Star Helena   Kamsarmax   82,187   2006   29-Dec-14
43   Mercurial Virgo   Kamsarmax   81,545   2013   11-Jul-14
44   Magnum Opus   Kamsarmax   81,022   2014   11-Jul-14
45   Tsu Ebisu   Kamsarmax   81,001   2014   11-Jul-14
46   Star Iris   Panamax   76,466   2004   08-Sep-14
47   Star Aline   Panamax   76,429   2004   04-Sep-14
48   Star Emily   Panamax   76,417   2004   16-Sep-14
49   Star Natalie   Panamax   73,798   1998   29-Aug-14
50   Star Nicole   Panamax   73,751   1997   14-Jan-15
51   Star Vanessa   Panamax   72,493   1999   07-Nov-14
52   Star Claudia   Panamax   71,662   1997   20-Jan-15
53   Idee Fixe   Ultramax   63,458   2015   25-Mar-15
54   Roberta   Ultramax   63,426   2015   31-Mar-15
55   Laura   Ultramax   63,399   2015   07-Apr-15
56   Kaley   Ultramax   63,283   2015   26-Jun-15
57   Star Challenger   Ultramax   61,462   2012   12-Dec-13
58   Star Fighter   Ultramax   61,455   2013   30-Dec-13
59   Honey Badger   Ultramax   61,297   2015   27-Feb-15
60   Wolverine   Ultramax   61,297   2015   27-Feb-15
61   Star Aquarius   Ultramax   60,916   2015   22-Jul-15
62   Maiden Voyage   Supramax   58,722   2012   11-Jul-14
63   Strange Attractor   Supramax   55,742   2006   11-Jul-14
64   Star Omicron   Supramax   53,489   2005   17-Apr-08
65   Star Gamma   Supramax   53,098   2002   04-Jan-08
66   Star Zeta   Supramax   52,994   2003   02-Jan-08
67   Star Delta   Supramax   52,434   2000   02-Jan-08
68   Star Theta   Supramax   52,425   2003   06-Dec-07
69   Star Epsilon   Supramax   52,402   2001   03-Dec-07
70   Star Cosmo   Supramax   52,246   2005   01-Jul-08
71   Star Kappa   Supramax   52,055   2001   14-Dec-07
72   Star Michele   Handymax   45,588   1998   14-Oct-14
        Total operating dwt:   7,518,320        
                     
                     

Newbuilding Vessels                        

                   
    Vessel Name   Drybulk
Vessel Type
Capacity
(dwt.)
  Shipyard   Expected Delivery
 Date
1   HN NE 198 (tbn Star Poseidon)   Newcastlemax 209,000   NACKS, China   March 2016
2   HN 1359 (tbn Star Marisa)   Newcastlemax 208,000   SWS, China   November 2015
3   HN 1372 (tbn Star Libra)   Newcastlemax 208,000   SWS, China   November 2015
4   HN 1360 (tbn Star Ariadne)   Newcastlemax 208,000   SWS, China   February 2016
5   HN 1342 (tbn Star Gemini)   Newcastlemax 208,000   SWS, China   March 2016
6   HN 1371 (tbn Star Virgo)   Newcastlemax 208,000   SWS, China   February 2016
7   HN 1361 (tbn Star Magnanimus)   Newcastlemax 208,000   SWS, China   May 2016
8   HN 1343 (tbn Star Leo)   Newcastlemax 208,000   SWS, China   March 2016
9   HN 1363 (tbn Star Chaucer)   Newcastlemax 208,000   SWS, China   September 2016
10   HN 5055 (tbn Behemoth)   Capesize 182,000   JMU, Japan   January 2016
11   HN 5056 (tbn Megalodon)   Capesize 182,000   JMU, Japan   January 2016
12   HN 1312 (tbn Bruno Marks)   Capesize 180,000   SWS, China   September 2015
13   HN 1313 (tbn Jenmark)   Capesize 180,000   SWS, China   October 2015
14   HN 1338 (tbn Star Aries)   Capesize 180,000   SWS, China   November 2015
15   HN 1339 (tbn Star Taurus)   Capesize 180,000   SWS, China   March 2016
16   HN 1080 (tbn Kennadi)   Ultramax 64,000   New Yangzijiang, China   January 2016
17   HN 1081 (tbn Mackenzie)   Ultramax 64,000   New Yangzijiang, China   February 2016
18   HN 1082 (tbn Night Owl)   Ultramax 64,000   New Yangzijiang, China   March 2016
19   HN 1083 (tbn Early Bird)   Ultramax 64,000   New Yangzijiang, China   April 2016
20   HN NE 196 (tbn Star Antares)   Ultramax 61,000   NACKS, China   October 2015
21   HN NE 197 (tbn Star Lutas)   Ultramax 61,000   NACKS, China   January 2016
22   HN 5043 (tbn Star Pisces)   Ultramax 60,000   JMU, Japan   September 2015
        Total NB dwt: 3,395,000        
                   
        Total fully delivered dwt: 10,912,712        
                   

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". On a fully delivered basis, Star Bulk will have a fleet of 94 vessels, with an aggregate capacity of 10.9 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 45,588 dwt and 209,537 dwt. Our fleet currently includes 72 operating vessels and 22 newbuilding vessels under construction at shipyards in Japan and China. 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 facts.

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 general dry bulk shipping market conditions, including fluctuations in charterhire rates and vessel values, the strength of world economies, the stability of Europe and the Euro, fluctuations in interest rates and foreign exchange rates, changes in demand in the dry bulk shipping industry, including the market for our vessels, changes in our operating expenses, including bunker prices, dry docking and insurance costs, 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, the availability of financing and refinancing, our ability to meet requirements for additional capital and financing to complete our newbuilding program and grow our business, vessel breakdowns and instances of off-hire, risks associated with vessel construction, potential exposure or loss from investment in derivative instruments, potential conflicts of interest involving our Chief Executive Officer, his family and other members of our senior management, and our ability to complete acquisition transactions as planned. 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.

Contact Information

  • Contacts:

    Company:
    Simos Spyrou, Christos Begleris
    Co ‐ Chief Financial Officers
    Star Bulk Carriers Corp.
    c/o Star Bulk Management Inc.
    40 Ag. Konstantinou Av.
    Maroussi 15124
    Athens, Greece
    Email: info@starbulk.com
    www.starbulk.com

    Investor Relations / Financial Media:
    Nicolas Bornozis
    President
    Capital Link, Inc.
    230 Park Avenue, Suite 1536
    New York, NY 10169
    Tel. (212) 661‐7566
    E‐mail: starbulk@capitallink.com
    www.capitallink.com