STAR BULK ANNOUNCES A FURTHER THREE-YEAR TIME CHARTER AGREEMENT FOR ITS CAPESIZE VESSEL STAR SIGMA

Athens, Greece. March 11, 2007- Star Bulk Carriers Corp. (NASDAQ:SBLK), announced today it has agreed to a further three-year time charter for its capesize vessel Star Sigma. The three-year charter will commence in April 2009 when the current one-year time charter at a gross daily rate of USD 100,000 will expire. The three-year charter has gross daily charter average rate of $63,000 staggered as follows: USD 69,000 for the first year (April 2009-April 2010), USD 63,000 for the second year (April 2010-April 2011) and USD 57,000 for the third year (April 2011-April 2012). Star Sigma is a 1991-built Capesize vessel of 184,400 dwt. Star Bulk expects to take delivery of the Star Sigma within April 2008 at which time the one-year time charter will commence.

Akis Tsirigakis, President and CEO of Star Bulk commented: "We are pleased to have secured further period employment for the Star Sigma at an attractive rate taking advantage of the strength of the dry bulk market. It is remarkable that the new 3-year employment was achieved on top of the one-year employment already in place, before we have even taken delivery of the vessel slated for April 2008. Our period coverage is 100% for 2008 is now 62% for 2009. We believe that the availability of period charters of such long duration more than a year forward in time is a sign of the industry's confidence in the prospects of the dry bulk sector."


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.