Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) a global shipping company focusing on transportation of dry bulk cargoes, today announced that:
New Contract of Affreightment The Company has entered into its second Contract of Affreightment (COA)

with Brazil’s Companhia Vale do Rio Doce (Vale). The COA is for a term
of two years, beginning in January 2010 until December 2011 and
provides for the transportation of approximately 1,300,000 tonnes of
iron ore between Brazil and China in quarterly Capesize vessel
shipments with the first such shipment scheduled to commence during the
first quarter of 2010.
The contract rate is $24.75 per ton of iron ore transported, which we
estimate will result in gross annual revenue of approximately $16
million.
Sale of Star Alpha
The Company has agreed to sell the Star Alpha, a 175,075 dwt, 1992
built Capesize vessel to a third party for a contracted sale price of
$19.85 million. We expect to deliver the vessel to the buyers in
December 2009.
Re-deployment of the Star Ypsilon
The Company has chartered the Capesize vessel Star Ypsilon to Noble,
for minimum of 5 to maximum of 7 months under a time charter at a gross
daily rate of $43,250. The vessel was previously chartered to TMT Bulk
Co. Ltd (TMT), a company affiliated with TMT Co.Ltd. under a
charterparty that ran until July 2011. The vessel was withdrawn from
the service of TMT for repudiatory breach of the contract by TMT.
Arbitration proceedings have commenced against TMT in London to pursue
damages arising from such breach, which will include the loss of hire.
Akis Tsirigakis, CEO of Star Bulk, commented: “We are pleased to expand
on our beneficial relationship with Vale with the signing of our second
COA. The sale of the Star Alpha, one of our oldest vessels, marks
another milestone in our fleet renewal effort. We view the severance of
our last ties with TMT positively, and we are pleased that we were able
to fix the Star Ypsilon at an attractive rate. Having re-chartered the
Star Ypsilon, the contract coverage of our fleet is now 100% for 2009,
85% for 2010 and 51% for 2011, which we believe provides significant
revenue visibility.”
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 is
headquartered in Athens, Greece. Its common stock and warrants trade on
the Nasdaq Global Market under the symbols “SBLK” and “SBLKW”
respectively. Currently, Star Bulk has an operating fleet of twelve dry
bulk carriers. The total fleet consists of four Capesize, and eight
Supramax dry bulk vessels with an average age of approximately 10.1
years and a combined cargo carrying capacity of 1,106,253 deadweight
tons.

Source: Star Bulk Carriers Corp.

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• Star Bulk acquires the Replace Capesize Bulk Carrier recently sold Star Alpha Capesize

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• Star Signs Second Capesize Bulk New Contract

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• Star Bulk Carriers Corp. Reports Financial Results for the third quarter and nine to 30 quarters September 2009

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• Star Bulk is the sale of the Star Beta Capesize Vessel

    Star Bulk Carriers Corp., a global shipping company focusing on transportation of dry bulk cargoes, today announced that the Company has entered into an agreement to sell the Star Beta, a 174,691 dwt Capesize vessel, built 1993, to a third party for a contracted sale price of $22 million. The

• Star Bulk is three years after Rio Tinto Time Charter for Capesize Star Aurora and arranges financing

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• Star Bulk Announces New Time Charter for Star Theta, Upsilon Star and ISO 14000 certification

     Star Bulk Carriers Corp. (the ‘Company’ or ‘Star Bulk’) (NASDAQ: SBLK), today announced the following: Star Theta : Time Charter Extension The Company agreed with present charterers Cargill to extend the current time charter of the Star Theta, a 52,425 dwt 2003-built Supramax vessel, for a minimum 16 months

• Globus Maritime Ltd. Announces Delivery of Supramax Dry bulk carrier new Star …

    Globus Maritime Ltd, a global shipping transportation company that owns and operates Supramax and Panamax dry bulk carriers, announces that it took delivery from an unaffiliated third party of the bulk carrier “Star Globe” the second of two sistership-vessels it had previously agreed to acquire for US$32,825,000 each as announced

• Star Bulk is three years after Rio Tinto Time Charter for Capesize and arranges financing

    Star Bulk Carriers Corp., Friday announced that it has entered into a time charter agreement with Rio Tinto for the Star Aurora, a capsize vessel of 171,199 dwt, built in 2000 in Japan, for a period of about 3 years at a gross daily rate of $27,500.

• Star Bulk Declares Dividend of $ 0.05 per share for the quarter to 31 March 2010

    Star Bulk Carriers Corp. yesterday announced that its Board of Directors declared a cash dividend of $0.05 per outstanding share of the Company’s common stock for the three months ending March 31, 2010.