STAR BULK ANNOUNCES A NEW 3-YEAR TIME CHARTER FOR ITS SUPRAMAX VESSEL STAR GAMMA

Athens, Greece. March 26, 2008 - Star Bulk Carriers Corp. (NASDAQ:SBLK), announced today it has agreed to a further three-year time charter for its Supramax vessel Star Gamma.

The new three-year time charter to Korea Line will commence in February 2009 when the current one-year time charter to TMT, at a gross daily rate of USD 28,500, will expire. The new three-year charter with Korea Line has a gross daily average rate of $38,000 staggered as follows: USD 45,000 for the first year (February 2009-February 2010), USD 38,000 for the second year (February 2010-February 2011) and USD 31,000 for the third year (February 2011-February 2012). Star Gamma is a 2002-built Supramax vessel of 53,098 dwt.

Akis Tsirigakis, President and CEO of Star Bulk commented: "We are pleased to have secured further period employment for the Star Gamma at a very attractive rate. The average 3-year rate we achieved is 33% higher than the existing 1-year rate and will further enhance our revenue and profit generation. Following this fixing, Star Bulk's fleet-wide time charter coverage for 2008 remains at 94% while that for 2009 increases from 54% to 62%. We intend to continue pursuing opportunities to increase the time charter coverage of our fleet into the future in a manner which enables us to secure strong cash flows and superior financial performance."

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.