Star Bulk Announces Settlement With OLDENDORFF
ATHENS, GREECE, April 13, 2011- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK), today announced that the dispute that had arisen back in October 2008 between the Company's subsidiary Star Beta LLC ("Star Beta") and OLDENDORFF GmbH and Co. KG ("Oldendorff"), sub charterers of the STAR BETA ("the Vessel") concerning the assignment to Star Beta of the charterparty between Oldendorff and Industrial Carriers Inc. ("ICI") has now been settled with the Company receiving a major portion of the quantum of the claim .
Star Bulk 3Q, 9 Mo Results
Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on transportation of dry bulk cargoes, announced its operating results for the third quarter and nine months ended September 30, 2008. • The Company reported net income of $35.24 million for the third quarter of 2008 compared to net income of $0.94 million for the third quarter of 2007. • Voyage and time charter revenues were $65.18 million for the third quarter of 2008. This figure includes revenues of $16.89 million attributable to the amortization of the fair value of below/above market acquired time charters. • Earnings per share, basic and diluted for the third quarter of 2008 were $0.63 and $0.62, respectively.