STAR BULK ANNOUNCES 3-YEAR AND 5-YEAR TIME CHARTERS FOR ITS SUPRAMAX VESSELS STAR EPSILON AND STAR ZETA

Athens, Greece, April 30, 2008 - Star Bulk Carriers Corp. (NASDAQ:SBLK) announced today that it has agreed to a three-year time charter for the M/V "Star Epsilon" and a five-year time charter for the M/V "Star Zeta".

The "Star Epsilon", a 2001 built, Supramax vessel of 52,402 dwt has been committed to a five year Time Charter, at a gross daily rate of USD 32,400. The new charter will commence in March 2009 when the vessel's current time charter expires.

The "Star Zeta", a 2003 built, Supramax vessel of 52,994 dwt has been committed to a three year Time Charter, at a gross daily rate of USD 42,500. The new charter will commence in May 2008. The vessel is currently performing a short term time charter at a gross daily rate of USD 65,000 which commenced on April 21, 2008.

The "Star Zeta", had been previously committed to a 5-year time charter, at a gross daily rate of USD 38,750, which was terminated by mutual agreement without further obligations due to delays in the vessel's delivery into the charter, which resulted from operational delays of the port of Karachi.

Akis Tsirigakis, President and CEO of Star Bulk commented: "We continue to believe in the strength of the dry bulk fundamentals and to implement our strategy to secure our fleet under long term charters in order to provide our investors with visible strong revenues as well as to protect from any market volatility that may arise. We believe this strategy should provide for long term shareholder value. Specifically, we were able to secure the Star Epsilon at a rate that is 27% higher from what the vessel is earning today. Our fleet while fully contracted for 2008; is now contracted 79% and 52% for 2009 and 2010 respectively.

In regards to the "Star Zeta", the termination of the previous charter has enabled management to re-charter the vessel at a rate that is approximately 10% higher than Star Bulk would have received under the terminated charter."

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 eleven dry bulk carriers, which 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.