STAR BULK TAKES DELIVERY OF SUPRAMAX VESSEL AND EXPANDS ITS OPERATIONAL FLEET TO 7 VESSELS


New York, New York, January 4, 2008 - Star Bulk Carriers Corp. (NASDAQ:SBLK) announced today that it has taken delivery of the "Star Gamma" (ex C Duckling), a Supramax vessel of 53,098 dwt built in 2002 in Japan. Star Gamma is currently under a pre-existing time charter employment contract at a gross daily rate of USD 28,500 which continues until January 2009.

Star Bulk has agreed to acquire a total of nine dry bulk vessels including two Capesize, one Panamax and six Supramax vessels. As of today, the company has taken delivery of one Capesize and six Supramax vessels, thereby expanding its operational fleet to seven vessels. The remaining one Capesize and one Panamax vessels are scheduled for delivery within January 2008, as per the table below.

Fleet Table
The following table sets forth summary information regarding Star Bulk's fleet. Star Bulk expects to complete delivery of the vessels included in the table below within January 2008.


* Indicates expected delivery
(1) Represents the latest expiry date allowed by the charter party
(2) 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, 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, seven of which have been delivered, from subsidiaries of TMT Co, Ltd. 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.

Star Bulk Carriers Corp.