Star Bulk announces receipt of Nasdaq notice

Star Bulk Carriers Corp. a  global shipping company providing transportation solutions in the dry bulk sector, today announced that  the  Company received a letter from the Listing Qualifications department of  The NASDAQ Stock Market LLC  (“Nasdaq”), dated as of January 6, 2016, notifying the Company that the minimum bid price for its common  shares was below $1.00 per share for a period o f 30 consecutive business days, and that the Company  therefore  did not meet the minimum bid price requirement for the Nasdaq Global Select Market, which is set  forth in Nasdaq Listing Rule 5450(a)(1) . The Company’s common shares will continue to be listed  on and trade on the Nasdaq Global Select Market  under the symbol “SBLK”, as the Nasdaq notification letter does not result in the immediate delisting of the  Company’s common shares. The  Company's business operations are not affected by the notification let ter. The  Company has a compliance period of 180 calendar days, or until July 5, 2016, to regain compliance with  Nasdaq's minimum bid price requirement.  Compliance would be regained if the  minimum  bid price for the  Company’s common  shares  were to be at or a bove $1.00 per share for a minimum of 10 consecutive  business  days before the expiration of the grace period.  If the Company does not regain compliance in that period, it  may be eligible for an additional grace period if it satisfies the continued listing  requirement for market value  of publicly held shares and all other initial listing standards, with the exception of the bid price requirement,  and provides written notice of its intention to cure the deficiency during the second compliance period . The Comp any intends to monitor the closing bid price of its common stock between now and July 5, 2016 and  is considering all options that will allow its common shares to remain listed on the Nasdaq. 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 steel products. Star Bulk was incorporated in the M arshall 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 Bulk will have a fleet of 80 vessels, with  an aggre gate 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, the Company has one chartered - in Supramax vessel, under a time  charter expiring in September 2017.