Star Bulk Enters Into a New Time Charter
for the Star Gamma

ATHENS, GREECE, March 11, 2011- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that the Company received a letter from Korea Line Corporation ("KLC"), the charterers of the Star Gamma ("the vessel'), announcing the termination of the charterparty, effective immediately. No hire has been received since the Company's public announcement on February 22, 2011 informing shareholders that KLC had commenced rehabilitation proceedings in Korea. The Company will do its utmost to secure the value of the terminated charterparty. Following the termination, the Company immediately entered into a time charter contract with STX Pan Ocean for the vessel for a period of 4-6 months , at a gross daily rate of $17,000. The Star Gamma is a Supramax vessel of 53,098 dwt built in 2002.

About Star Bulk
Star Bulk is a ship owning and ship operating 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 a further two Capesize vessels currently under construction. The total fleet consists of thirteen vessels, five Capesize and eight Supramax dry bulk vessels, with a combined cargo carrying capacity of 1,287,685 deadweight tons. The approximate average age of our current operating fleet is 10.6 years.

Star Bulk Carriers Corp.