Star Bulk Takes Delivery of Supramax Vessel

Star Bulk Carriers Corp. has taken delivery of the Star Alpha (ex A Duckling), a Capesize vessel of 175,075 dwt built in 1992. Star Alpha is currently under a preexisting time charter employment contract at a gross daily rate of USD 47,500 which continues until October 2009. 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 two Capesize and six Supramax vessels, thereby expanding its operational fleet to eight vessels. The ninth vessel, a Panamax, is scheduled for delivery within February 2008.