Star Bulk takes delivery of M/V Peloreus,
its first eco, fuel - efficient capesize

Athens, Greece - July 24, 2014


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 on July 22, 2014 it has taken delivery of M/V Peloreus (the “Vessel”), a 182,000 dwt Capesize built by Japan Marine United (“JMU”), one of the leading shipyards worldwide. The Vessel is the first of six similar vessels ordered at JMU, with expected deliveries until the 3rd quarter of 2015. They are all built with modern specifications for lowest fuel consumption and carbon emissions of any 180,000 DWT Capesize vessel of which we are aware.

The Vessel will be employed in the spot market in order to take advantage of its modern design and fuel efficient specifications.
Following the delivery of M/V Peloreus and inclusive of the two Kamsarmax vessels to be acquired from Heron Ventures Ltd., Star Bulk will own thirty three dry bulk vessels on the water, consisting of eleven Capesize, four Post-Panamax, six Kamsarmax, two Ultramax and ten Supramax vessels with average age of approximately 7.3 years.

In addition, Star Bulk has entered into definitive contracts for the construction of additionally thirty six vessels at high quality shipyards in Japan and China, including thirteen Newcastlemax, nine Capesize and fourteen Ultramax vessels with fuel-efficient specifications with expected deliveries in 2014, 2015 and early 2016.

The Company has partially financed the $34.63 million final delivery installment for the Vessel, using $32.5 million proceeds from the previously committed 5 year senior secured credit facility by Deutsche Bank AG, while the remaining amount was financed using cash on hand. The vessel was fitted with additional and higher specification equipment of approximately $0.54 million, the payment of which is included in the aforementioned final delivery installment.

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 which include 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 Select Market under the symbol "SBLK”. On a fully delivered basis, Star Bulk has a fleet of 69 vessels, with an aggregate capacity of 8.7 million, consisting primarily of Capesize as well as Kamsarmax, Ultramax and Supramax vessels with carrying capacities between 52,000 dwt and 209,000 dwt. Our fleet currently includes 33 operating vessels and 36 currently under construction at shipyards in Japan and China. All of the newbuilding vessels are expected to be delivered during 2014, 2015 and early 2016.

Star Bulk Carriers Corp. press release