Star Bulk Enters Into a One-Year Time Charter Agreement for the Star Theta

ATHENS, GREECE, October 14, 2011 - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that it has entered into a time charter contract with Cargill International S.A ("Cargill") for the vessel Star Theta, for a duration of approximately one year, at a gross daily rate of $14,100. The Star Theta is a Supramax vessel of 55,425 dwt built in 2003. The new contract will contribute a minimum of $4.5 million to a maximum of $5.6 million in gross revenue. The vessel is expected to be delivered to Cargill in October 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's fleet consists of fifteen dry bulk carriers, including six Capesize vessels, eight Supramax vessels and definitive agreement for the construction of one Capesize vessel. The fleet has 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. press release