Star Bulk Carriers Corp. Announces a Pioneering Green Loan to Finance the Retrofitting of 50 Scrubbers

Athens, Greece - October 09, 2018

Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (Nasdaq: SBLK, Oslo:SBLK/R), a global shipping company focusing on the transportation of dry bulk cargoes announced today that it has entered into a $310 million loan agreement, which includes a $70 million tranche (the "Green Loan Tranche") that will exclusively finance the procurement and retrofitting of scrubbers for up to approx. 50 vessels in Star Bulk's fleet. DNB Bank ASA ("DNB"), acted as the Mandated Lead Arranger, Facility Agent and Coordinator, along with ABN AMRO Bank N.V ("ABN"), BNP Paribas ("BNP"), Danish Ship Finance A/S ("DSF") and Skandinaviska Enskilda Banken AB ("SEB") as Mandated Lead Arrangers.

The remaining $240 million were drawn on September 28, 2018 and refinanced in full a group of 26 vessels, namely 4 Newcastlemax, 4 Capesize, 2 Post Panamax, 14 Kamsarmax and 2 Supramax vessels.

The Green Loan Tranche has been certified by DNV GL Business Assurance Services Limited ("DNV GL") to be aligned with the Green Loan Principles. The completion of this financing is an important milestone for Star Bulk and its lending partners, who are pioneering sustainable Green Loans for dry bulk shipping investments, which aim to promote maritime emission reductions and compliance with the 2020 IMO regulations.

The Green Loan Tranche has a margin of 280 basis points over LIBOR and an amortization profile of 4.5 years.

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" and on the Oslo Stock Exchange under the ticker "SBLK R". On a fully delivered basis, Star Bulk will have a fleet of 111 vessels, with an aggregate capacity of 12.67 million dwt, consisting of 17 Newcastlemax, 20 Capesize, 2 Mini Capesize, 7 Post Panamax, 35 Kamsarmax, 2 Panamax, 16 Ultramax and 12 Supramax vessels with carrying capacities between 52,055 dwt and 209,537 dwt. The Company holds call options and has sold respective put options on 4 Capesize vessels, with exercise dates in early April 2019.

Star Bulk Carriers Corp. press release