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2017 March 9   12:30

Star Bulk announces the acquisition of two modern kamsarmax vessels and the delivery of one newcastlemax vessel

Star Bulk Carriers Corp., a  global shipping company focusing  on the transportation of dry bulk cargoes, has  entered into definitive agreements to acquire two modern Kamsarmax dry bulk carriers from an  unaffiliated third party for an aggregate total consi deration of approximately US $30.3 million.

Each of the vessels has a carrying capacity of 81,713 deadweight tons and was built with high speci fications at  Jiangsu New Yangzi jiang in  2013. The vessels are expected to be delivered to Star Bulk between March and  May 2017. Star Bulk is currently in advanced discussions with a financial institution to secure financing  for  up to 50% of the acquisition costs of the vessels.

Star Bulk, additionally,  today  announced that it took delivery of  the Newcastlemax vessel  Star Virgo (ex HN 1371), which is financed under a bareboat charter accounted for as a capital lease, from CSSC (Hong Kong)  Shipping Company Limited.

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 Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. On a fully delivered basis, Star Bulk will have a fleet of 74 vessels, with  an aggregate capacity of 8. 2 million dwt, consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax and Supramax vessels with carrying capacities between  52,055  dwt and 209,537 dwt. Star Bulk  fleet currently includes  68  operating vessels, 2 vessels acquired and due for delivery and  4 newbuilding vessels  under construction at shipyards in China. Additionally, Star Bulk has one chartered - in Supramax vessel, under a time charter expiring in September 2017.

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