Five Bulkers on Order for Star Bulk

Star Bulk Carriers Corp. entered into agreements with Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 208,000 dwt Newcastlemax drybulk vessels, each with fuel efficient specifications and expected deliveries during the first half of 2016. The Company signed the contracts on September 23, 2013.

On September 27, 2013, the Company entered into agreements with Nantong COSCO KHI Ship Engineering Co. (NACKS), for the construction of two 61,000 dwt Ultramax drybulk vessels and one 209,000 dwt Newcastlemax drybulk vessel, each with fuel efficient specifications. The expected deliveries for the Ultramaxes are during the fourth quarter of 2015 and for the Newcastlemax during the first quarter of 2016.

The aggregate purchase price of the five newbuilding vessels is approximately $214.9 million.

In addition, Star Bulk has chartered one of its Capesize vessels, the Star Borealis, for approximately five to seven months at a gross daily time charter rate of USD $27,000.

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Press Release, October 1, 2013