Star Bulk Takes Delivery and Expands Vessels

Star Bulk Carriers Corp announced that it has taken delivery of the following three vessels: The M/V "Star Beta" a Capesize vessel of 174,691 dwt built in 1993. Star Beta has been committed to a two-year Time Charter at a gross daily rate of USD 106,500. The "Star Zeta" a Supramax vessel of 52,994 dwt built in 2003. Star Zeta is currently under a pre-existing time charter employment contract at a gross daily rate of USD 30,500 until the end of March 2008; thereafter, the vessel will enter into a five-year Time Charter until March 2013 at a gross daily rate of USD 39,500. The M/V "Star Delta", a Supramax vessel of 52,434 dwt built in 2000. Star Delta is currently under a pre-existing time charter employment at a gross daily rate of USD 25,800 until early May 2009. Star Bulk has agreed to acquire a total of nine dry bulk vessels including two Capesize, one Panamax and six Supramax vessels. As of today, the company has taken delivery of one Capesize and five Supramax vessels, thereby expanding its operational fleet to six vessels. The remaining three vessels are scheduled for delivery within January 2008.