Star Bulk announces replacements
in its Board of Directors

Athens, Greece - February 24, 2015


Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes, announced today that entities affiliated with Oaktree Capital Management, L.P., who collectively are the Company’s largest shareholder (the “Oaktree Investors”), have changed its board member designee to the Board of Directors of the Company.

Mr. Rajath Shourie, a Class A director and Ms. Emily Stephens, a Class B director have resigned from the Board of Directors. Following the exercise of rights by the Oaktree Investors, afforded to them under the merger transaction previously announced in July 2014, Oaktree Investors have nominated two new individuals to replace the above resigned directors.

Consequently, the Board filled the two vacancies by appointing Mr. Mahesh Balakrishnan as Class A director and Ms. Jennifer Box as Class B director both of whom will serve until their respective successors are duly elected and qualified. The number of directors constituting the Board of Directors remains at nine (9).

Mses. Stephens and Box and Messrs. Shourie and Balakrishnan are all officers of Oaktree Capital Man agement, L.P.

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 will have a fleet of 100 vessels, with an aggregate capacity of 11.7 million dwt, consisting of Newcastlemax, Capesize, Kamsarmax, Panamax, Post-Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 45,590 dwt and 209,000 dwt. Our fleet currently includes 64 operating vessels, 2 second hand vessels to be delivered in early 2015 and 34 newbuilding vessels currently under construction at shipyards in Japan and China. All of the newbuilding vessels are expected to be delivered during 2015 and 2016.

Star Bulk Carriers Corp. press release