Vessel Year Charter Latest Time Name Type DWT Built Type re-delivery(1) Charter rate(2) Star Alpha (ex. A Duckling) Capesize 175,075 1992 TC Oct 5, 2009 $ 47,500 Star Beta (ex. B Duckling) Capesize 174,691 1993 TC Mar 31, 2010 $106,500 Star Gamma (ex. C Duckling) Supramax 53,098 2002 TC Jan 25, 2009 $ 28,500 Star Delta(ex. F Duckling) Supramax 52,434 2000 TC May 7, 2009 $ 25,800 Star Epsilon (ex. G Duckling) Supramax 52,402 2001 TC Mar 15, 2009 $ 25,550 Star Zeta (ex. I Duckling) Supramax 52,994 2003 TC Mar 28, 2008 $ 30,500 Star Theta (ex. J Duckling) Supramax 52,425 2003 TC Jun 16, 2009 $ 32,500 Star Iota (ex. Momy Duckling) Panamax 78,585 1983 TC Jan 15, 2009 $ 18,000 Star Kappa (ex E Duckling) (3) Supramax 52,055 2001 TC Nov 23, 2010 $ 47,800 Total /Average 743,759 (1)Represents the latest redelivery date allowed by the charter party (2)Represents the gross daily rateAbout 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, phosphate 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. Star Bulk has definitive agreements to acquire a fleet of nine dry bulk carriers, two of which have been delivered, from subsidiaries of TMT Co, Ltd., Taiwan (TMT). The nine dry bulk carriers, consist of two Capesize, one Panamax and six Supramax dry bulk vessels with an average age of approximately 9.5 years and a combined cargo carrying capacity of 743,759 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: Company: Akis Tsirigakis President and CEO Star Bulk Carriers Corp. Aethrion Center, Suite B-34 40 Ag. Konstantinou Maroussi 15124 Athens, Greece 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