Star Bulk Acquires Supramax Vessel and Expands Its Fleet to Twelve Vessels
Surpassing the 1 Million DWT Mark

Athens, Greece, May 22, 2008 - Star Bulk Carriers Corp. (NASDAQ: SBLK), announced today that it has entered into a definitive agreement to acquire a Supramax bulk carrier of approx. 52,200 dwt, built in 2005, for approx. $68.8 million. The vessel, to be renamed the Star Cosmo, will be financed through a combination of company cash and bank debt.

The Star Cosmo is scheduled to be delivered to Star Bulk within June/July 2008. The vessel comes with a staggered 3-year charter to Korea Line that commenced on March 17, 2008, at a gross daily rate of $55,900, $41,900 and $27,900 for the first, second and third year respectively.

Following this acquisition, Star Bulk's fleet will increase to twelve vessels of approximately 1,033,850 dwt. With the addition of the Star Cosmo the contracted fleet operating days under time charter in 2008, 2009 and 2010 will be 100%, 81% and 56% respectively.

Akis Tsirigakis, President and CEO of Star Bulk Carriers commented: "We are pleased to announce the acquisition of the Star Cosmo which increases our fleet capacity to over 1,000,000 dwt. With the addition of the Star Cosmo, after having recently agreed to sell the Star Iota we continue to improve our fleet's age profile and earnings capability. In addition, the three year charter is in line with our strategy of securing visible and stable cash flows which sustain our dividend policy and enhance our growth prospects."

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, plus definitive agreements to acquire one Supramax dry bulk carrier and sell its Panamax dry bulk carrier. The total fleet of twelve vessels consists of three Capesize, one Panamax and eight Supramax dry bulk vessels with an average age of approximately 9.7 years and a combined cargo carrying capacity of approximately 1,033,850 deadweight tons.

Star Bulk Carriers Corp.