Star Bulk Enters Charter Agreement

Star Bulk Carriers Corp. (Nasdaq: SBLK),a global shipping company focusing on the transportation of dry bulk cargoes, said it entered into a time charter contract with Pacific Basin Chartering Limited BVI for the Star Kappa for approximately one year, at a gross daily rate of $12,500. The Star Kappa is a Supramax vessel of 52,055 dwt built in 2001. The new contract is expected to contribute a minimum of $4.2 million to a maximum of $5.1 million in gross revenue. The vessel is expected to be delivered to Pacific Basin once it finishes its scheduled drydock.