Star Bulk Announces Charter

Star Bulk Carriers Corp. announced it has agreed to a further three-year time charter for its Supramax vessel Star Gamma.
The new three-year time charter to Korea Line will commence in February 2009 when the current one-year time charter to TMT, at a gross daily rate of USD 28,500, will expire. The new three-year charter with Korea Line has a gross daily average rate of $38,000 staggered as follows: USD 45,000 for the first year (February 2009-February 2010), USD 38,000 for the second year (February 2010-February 2011) and USD 31,000 for the third year (February 2011-February 2012). Star Gamma is a 2002-built Supramax vessel of 53,098 dwt.