Star Bulk Takes Delivery of its First Capesize Newbuilding, Star Borealis

ATHENS, GREECE, September 12, 2011 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that it has taken delivery of the Star Borealis, a 179,678 dwt Capesize newbuilding. The Star Borealis is the first of two vessels to be delivered to the Company from HHIC-Phil Inc., a subsidiary of Hanjin Heavy Industries and Construction Co. Ltd. The vessel was delivered to its charterer, STX Panocean, and commenced a 10-year time charter at a gross daily rate of $24,750.

Spyros Capralos, President and CEO of Star Bulk, commented: "We are pleased to take delivery of the Star Borealis, which has commenced a 10-year time charter. We believe that this long-term time charter increases our future charter coverage and revenue visibility. We remain committed to making prudent and accretive acquisitions and increasing shareholder value."

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's fleet consists of fifteen dry bulk carriers, including seven Capesize vessels, eight Supramax vessels and definitive agreements for the construction of one Capesize vessel. The fleet has a combined cargo carrying capacity of 1,626,399 dwt and a dwt-weighted average age of approximately 11 years.

Star Bulk Carriers Corp. press release