Greece: STAR BIG Completes Regularly Scheduled Drydock and Maintenance Program

July 28, 2011

Star Bulk Carriers Corp. today announced that it has taken delivery of the Star Big (formerly Big Fish), a 1996-built, 168,404 dwt Capesize vessel. Following the completion of its regularly scheduled drydock, the vessel is expected to be redelivered to its charterer, a multinational mining company, for the remaining period of 4.3 years under the vessel’s time-charter employment at a gross daily rate of $25,000.

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 maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol “SBLK”. Currently, Star Bulk has an operating fleet of twelve dry bulk carriers, definitive agreements to build two Capesize vessels and definitive agreements to acquire an additional Capesize secondhand vessel. The total fleet consists of fifteen vessels, seven Capesize, and eight Supramax dry bulk vessels with a combined cargo carrying capacity of 1,626,721 deadweight tons. The average age of our current operating fleet is approximately 11 years.

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Source: starbulk, July 28, 2011