Star Bulk Enters into a Two-Year Time Charter Agreement for the Star Gamma

ATHENS, GREECE, June 23, 2011 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, today announced that it has entered into a time charter contract with Cargill for the Star Gamma for two years, plus an option for one additional year, at a gross daily rate of $14,050 and $15,500 for the first two years and the optional year respectively. The Star Gamma is a Supramax vessel of 53,098 dwt built in 2002. The new contract will contribute a minimum of $10.3 million to a maximum of $17.1 million in gross revenue. The vessel is expected to be delivered to Cargill in July 2011.

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, definitive agreements to build two Capesize vessels and definitive agreements to acquire two Capesize vessels. The total fleet consists of fifteen vessels, seven Capesize, and eight Supramax dry bulk vessels with a combined cargo carrying capacity of 1,626,721 deadweight tons. The average age of our current operating fleet is approximately 11 years.

Star Bulk Carriers Corp.