Star Maritime Acquisition Corp News

Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on the transportation of dry bulk cargoes announced that the company has sold contracts in the Freight Forward Agreement ("FFA") market on the Capesize index for Calendar 2009 for a total of 360 calendar days with an average rate of approximately $19,900 per day. The Capesize index refers to a modern Capesize dry bulk carrier. The contracts are intended to serve as an approximate hedge for one of the company's Capesize vessels trading in the spot market for 2009, effectively locking-in the approximate amount of revenue that the company expects to receive from such vessel for the period.

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.

Star Bulk Carriers Corp. (NASDAQ:SBLK), or Star Bulk, announced the completion of the Redomiciliation Merger by which Star Maritime has merged with and into Star Bulk with Star Bulk as the surviving entity. Star Bulk's common stock and warrants have been approved for listing on the NASDAQ Global Market under the symbols "SBLK" and "SBLKW" respectively. Trading under said symbols is expected to commence on Monday, December 3, 2007. The Company expects to take delivery of its first vessel early next week. Each outstanding share of Star Maritime common stock, par value $0.0001 per share, has been converted into the right to receive one share of Star Bulk common stock…

Star Maritime Acquisition Corp., a Delaware corporation, announced that at its special meeting of stockholders held yesterday, its stockholders voted to approve by an overwhelming majority the acquisition by Star Maritime's wholly-owned Marshall Islands subsidiary, Star Bulk Carriers Corp. of eight drybulk carriers from subsidiaries of TMT Co., Ltd. and the merger of Star Maritime with and into Star Bulk, with Star Bulk as the surviving corporation.

Star Maritime Acquisition Corp. announced that it received an audit report, which is included in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006, that contains a going concern qualification. This announcement is made in compliance with Section 610(B) of the American Stock Exchange Company Guide.