Star Bulk Takes Delivery of Supramax Vessel

Thursday, July 03, 2008

Star Bulk Carriers Corp. has taken delivery of the Star Cosmo, a Supramax bulk carrier of approximately 52,247 dwt, built in 2005. The vessel comes with a staggered 3-year charter to Korea Line that commenced on March 17, 2008, at a gross daily rate of $55,900, $41,900 and $27,900 for the first, second and third year respectively.
With the delivery of Star Cosmo, Star Bulk's operational fleet currently consists of twelve dry bulk carriers. In addition, the Company has definitive agreements to acquire one Capesize dry bulk carrier and to sell its oldest vessel, a Panamax dry bulk carrier. The contracted fleet operating days under time charter in 2008, 2009 and 2010 are currently 100%, 84% and 63% respectively.

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