Time Delivery Charter Year to Star Time Charter Comm. Rate Vessel Name Type DWT Built (1) Expiry (2) (3) ------------ -------- ------- ----- --------- ------------- ---- -------- Vessels delivered to Star Bulk as of December 31, 2007 Dec 15, '08- Star Epsilon Supramax 52,402 2001 Mar 15, '09 4.75% $ 25,550 ------------ -------- ------- ----- --------- ------------- ---- -------- April 2 - Jun Star Theta Supramax 52,425 2003 16, 2009 5% $ 32,500 ------------ -------- ------- ----- --------- ------------- ---- -------- Aug 24 - Nov Star Kappa Supramax 52,055 2001 23, 2010 2.5% $ 47,800 ------------ -------- ------- ----- --------- ------------- ---- -------- Feb 5 - May Star Beta Capesize 174,691 1993 5, 2010 5% $106,500 ------------ -------- ------- ----- --------- ------------- ---- -------- Vessels delivered to Star Bulk after December 31, 2007 Feb 7 - May Star Delta Supramax 52,434 2000 7, 2009 5% $ 25,800 ------------ -------- ------- ----- --------- ------------- ---- -------- Apr 12, 2008 Mar 12 - Jun 5% $ 30,300 Star Zeta Supramax 52,994 2003 12, 2013 5% $ 38,750 ------------ -------- ------- ----- --------- ------------- ---- -------- Jan 4 - Feb Star Gamma Supramax 53,098 2002 14, 2009 0% $ 28,500 ------------ -------- ------- ----- --------- ------------- ---- -------- Jul 5 - Oct Star Alpha Capesize 175,075 1992 5, 2009 5% $ 47,500 ------------ -------- ------- ----- --------- ------------- ---- -------- March 7 - April Star Iota Panamax 78,585 1983 17, 2009 0% $ 18,000 ------------ -------- ------- ----- --------- ------------- ---- -------- Vessels to be delivered April 2009 1.25% $100,000 April 2010 6% $ 69,000 April 2011 6% $ 63,000 Star Sigma Capesize 184,400 1991 April 2008 April 2012 6% $ 57,000 ------------ -------- ------- ----- ---------- ------------ ---- -------- Grand Total 10 927,759 ------------ -------- ------- ----- ---------- ------------ ---- -------- (1) Indicates expected delivery date to Star Bulk. (2) Range represents the earliest and latest expiry dates allowed by the charter party. Charterers have the right to add off-hire days, if any, that occurred during the charter period. (3) Represents the gross daily rate.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 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 nine dry bulk carriers, plus definitive agreement to acquire one further dry bulk carrier. 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. Forward-Looking Statements The information in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding: (1) the delivery and operation of assets of Star Bulk; (2) Star Bulk's future operating or financial results; (3) future, pending or recent acquisitions, business strategy, areas of possible expansion, and expected capital spending or operating expenses; (4) drybulk market trends, including charter rates and factors affecting vessel supply and demand; and (5) other statements identified by words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," "will," "should," "may," or words of similar meaning. Such forward-looking statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, Star Bulk's examination of historical operating trends, data contained in their records and other data available from third parties. Although Star Bulk 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 their control, Star Bulk cannot assure you that Star Bulk will achieve or accomplish these expectations, beliefs or projections. Important factors that could cause actual results to differ materially from those discussed in the forward-looking statements include the failure of a seller to deliver one or more vessels, the strength of world economies and currencies, general market conditions, including changes in charterhire rates and vessel values, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydocking, changes in Star Bulk's operating expenses, including bunker prices, dry-docking and insurance costs, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Additional factors that could cause Star Bulk's results to differ materially from those described in the forward-looking statements can be found in Star Bulk's Registration Statement on Form F-1/F-4 and reports on Form 6-K filed with the Securities and Exchange Commission (the "SEC") and available at the SEC's Internet site (http://www.sec.gov). The information set forth herein speaks only as of the date hereof, and Star Bulk 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: Akis Tsirigakis President and CEO Star Bulk Carriers Corp. Aethrion Center, Suite B-34 40 Ag. Konstantinou Maroussi 15124 Athens, Greece E-mail: ir@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: nbornozis@capitallink.com www.capitallink.com