Star Bulk Orders Three New Drybulk Vessels

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Tuesday, October 01, 2013

Star Bulk Carriers Corp. announced that on September 23, 2013, the company entered into agreements with Shanghai Waigaoqiao Shipbuilding Co. Ltd. (SWS) for the construction of two 208,000 dwt Newcastlemax drybulk vessels each with fuel efficient specifications and expected deliveries during the first half 2016. On September 27, 2013, the company entered into agreements with Nantong COSCO KHI Ship Engineering Co. (NACKS), for the construction of two 61,000 dwt Ultramax drybulk vessels and one 209,000 dwt Newcastlemax drybulk vessel, each with fuel efficient specifications and expected deliveries for the Ultramaxes during the fourth quarter of 2015 and for the Newcastlemax during the first quarter of 2016.

 The aggregate purchase price of the five newbuilding vessels is approximately $214.9 million.

The company also announced that it has chartered one of its Capesize vessels, the Star Borealis, for approximately five to seven months at a gross daily time charter rate of USD $27,000.

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