Star Bulk Announces New Time Charters for Star Theta, Star Ypsilon and ISO 14000 Certification

ATHENS, GREECE, May 5, 2010 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced the following:

Star Theta : Time Charter Extension

The Company agreed with present charterers Cargill to extend the current time charter of the Star Theta, a 52,425 dwt 2003-built Supramax vessel, for a minimum 16 months to approximately 18 months, effective as of June 10, 2010. The new employment will be, at a gross daily rate of $19,000 versus $11,300 under the current employment that was due to expire in July 2010. The new contract will contribute minimum $9.3 million to maximum $10.4 million in gross revenue and represents a 68% improvement in gross daily rate over its prior employment.

Star Ypsilon

The Company agreed a "package deal" with Augustea for the Star Ypsilon, a 150,940 dwt 1991-built Capesize bulk carrier that has been currently serving the COA the Company has with Brazil's Companhia Vale do Rio Doce (VALE), as follows: a) Augustea time chartered the Star Ypsilon for a minimum 10 months to maximum 12 months at a gross daily rate of $22,350 and b) during the equivalent time period, Augustea will execute the next four (4) cargoes out of a total of seven (7) remaining cargoes under the Vale COA.

ISO 14000 Certification

The Company has gained certification to ISO 14000 Environmental Management standard by Eurocert certifying body. This certification ensures that all shore-side as well as shipboard operations and processes conform to strict standards aimed at protecting the environment and are documented, verifiable and constantly improving.

Akis Tsirigakis, President and CEO of Star Bulk, commented: "We are pleased to extend the charter of the Star Theta to a satisfied customer at an improved rate. We are also pleased to have eliminated any potential exposure from the COA we entered into as a hedge last year while at the same time improving the overall economics. We continue to enhance the quality of our operations while keeping our focus on further reducing operating cost".

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 maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol "SBLK". Currently, Star Bulk has an operating fleet of eleven dry bulk carriers with definitive agreements to buy one and sell one Capesize vessel as well as to build two Capesize vessels. The total fleet consists of six Capesize, and eight Supramax dry bulk vessels with a combined cargo carrying capacity of 1,462,377 deadweight tons. The average age of our current operating fleet is 10.3 years.

Star Bulk Carriers Corp.