STAR BULK TAKES DELIVERY OF PANAMAX VESSEL AND EXPANDS ITS OPERATIONAL FLEET TO NINE VESSELS

Athens, Greece, March 7, 2008 - Star Bulk Carriers Corp. (NASDAQ:SBLK) announced today that it has taken delivery of the "Star Iota" (ex Mommy Duckling), a Panamax vessel of 78,585 dwt built in 1983. Star Iota will start a one-year time charter employment to TMT at a net daily rate of USD 18,000.

Star Bulk's fleet consists of ten dry bulk vessels including three Capesize, one Panamax and six Supramax vessels. As of today, the company has taken delivery of two Capesize, one Panamax and six Supramax vessels, thereby its present operational fleet is now nine vessels. The tenth vessel, a Capesize, is scheduled for delivery within April 2008. The fleet profile appears in the table below.

Akis Tsirigakis, President and CEO of Star Bulk commented: "The delivery of the Star Iota marks the completion of deliveries of the initial eight vessel fleet acquired from TMT that initiated the operational life of Star Bulk. Our fleet is fully contracted for 2008 and our healthy balance sheet gives us the strength to continue seeking value-enhancing fleet growth opportunities."

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 a definitive agreement to acquire a Capesize 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.

Star Bulk Carriers Corp.