STAR BULK ACQUIRES SUPRAMAX VESSEL EXPANDING ITS FLEET TO ELEVEN VESSELS

Athens, Greece, March 14, 2008 - Star Bulk Carriers Corp. (NASDAQ: SBLK), announced today that it has entered into a definitive agreement to acquire the M/V "Nord Wave", to be renamed the M/V "Star Omicron", a Supramax bulk carrier of 53,489 dwt, built in 2005 in Japan, for $72.0 million. The vessel will be financed through a combination of company cash and bank debt.

The M/V "Star Omicron", is scheduled to be delivered to Star Bulk within April 2008. It has been acquired charter-free and Star Bulk intents to secure the vessel under time-charter employment prior to its delivery to Star Bulk in April 2008.

Following this acquisition, Star Bulk's fleet will increase to eleven vessels of approximately 981,648 dwt and an average age of approximately 10 years. With the addition of the "Star Omicron" which at present is charter-free, the fleet operating days in 2008 under time charter are 93.5%.

Akis Tsirigakis, President and CEO of Star Maritime commented: "Implementing our strategy of selective fleet growth we are pleased to announce the acquisition of the M/V "Star Omicron". The addition of this vessel is consistent with our goal of maintaining a modern high quality fleet increasing the operational flexibility and revenue generation potential of our company. We continue to look for additional accretive acquisitions further expanding our fleet and increasing shareholder value."

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 two further dry bulk carriers. The total fleet consists of three Capesize, one Panamax and seven Supramax dry bulk vessels with an average age of approximately 10 years and a combined cargo carrying capacity of 981,648 deadweight tons.

Star Bulk Carriers Corp.