Star Bulk Takes Delivery of Third Vessel

Monday, December 17, 2007
Star Bulk Carriers Corp. announced that it has taken delivery of the M/V Star Kappa (ex E Duckling), a Supramax vessel of 52,055 dwt built in 2001 in Japan. Star Kappa is an addition to the initial fleet, was acquired for USD 72 million and is the third vessel to be delivered to the Company following the completion of the Redomiciliation Merger. Star Kappa has a Time Charter employment contract at a gross daily rate of USD 47,800 with earliest expiration date of September 23, 2010. 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 three Supramax vessels. The remaining six vessels are scheduled for delivery by mid-January 2008, as per the table below.
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