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  • 2016 January 5 15:29

    Star Bulk announces agreement to sell four capesize vessels for $148 million

    Star Bulk Carriers Corp. a  global shipping company providing transportat ion solutions in the dry bulk se ctor,  today announced  that it has  entered into agreements to sell four newbuilding Capesize  vessels under construction in China  to  unaffiliated third parties , for an aggregate  gross price  of $148 million.

    The vessels are  expected to be delivered to the  buyers  during the first  and second  quarter of 2016. The Company intends to  use a portion of the net proceeds from the sale of the Vessels to pay the remaining delivery installments  related to these Vessels and use the remainder for general corporate purposes,  including capital expenditures.

    About Star Bulk

    Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks which  include bauxite, fertilizers and st eel products. Star Bulk was incorporated in the Marshall Islands on December  13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global  Select Market under the symbol "SBLK".  On a fully delivered basis, Star Bu lk will have a fleet of  8 0 vessels, with  an aggregate capacity of  9.0 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax,  Panamax, Ultramax, Supramax and Handymax vessels with carrying capacities between 45,588 dwt and  209,537 dwt. Our fleet currently includes  70  operating vessels and 19 newbuilding  vessels under  construction  at shipyards in Japan and China.  Additionally, t he Company has  one chartered - in  Supramax vessel, under a time  charter expiring in September 2017.




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