Star Bulk Takes Delivery of Capesize Vessel

Wednesday, October 01, 2008

Star Bulk Carriers Corp. has taken delivery of the Star Ypsilon, a Capesize bulk carrier of approximately 150,940 dwt, built in 1991 in . The vessel is chartered for about 3 years at charter rates significantly higher than current market levels.
With the delivery of Star Ypsilon, Star Bulk's operational fleet currently consists of thirteen dry bulk carriers, plus the Company has a definitive agreement to sell its oldest vessel, Star Iota, a Panamax vessel. The contracted fleet operating days under time charter in 2008, 2009 and 2010 is currently 100%, 90% and 69% respectively.

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