Star Bulk Announces the Delivery of Two Newcastlemax and One Ultramax Bulk Carriers and Provides Fleet Status Update

ATHENS, GREECE--(Marketwired - Jul 22, 2015) - Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK) today announced that on July 15, 2015 it took delivery of M/V Goliath (ex HN NE 167) and M/V Maharaj (ex HN NE 184), two 209,000 dwt Newcastlemax bulk carriers built by Nantong COSCO KHI-Ship Engineering Co. ("NACKS"). In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius (ex HN 5040), a 61,000 dwt Ultramax bulk carrier built by Japan Marine United ("JMU").

Following these deliveries, Star Bulk owns seventy-two dry bulk vessels on the water, consisting of three Newcastlemax, eighteen Capesize, four Post-Panamax, twenty Kamsarmax, seven Panamax, nine Ultramax, ten Supramax vessels and one Handymax vessel, with a total carrying capacity of 7.5 million dwt.

In addition, Star Bulk has twenty-two vessels currently under construction at high quality shipyards in Japan and China, including nine Newcastlemax, six Capesize and seven Ultramax vessels with expected deliveries in 2015 and 2016.

The fleet of the Company is presented in the table below:

Existing On the Water Fleet Profile (As of July 22, 2015)                     

		Vessel Name		Drybulk Vessel Type		Capacity (dwt.)		Year Built		Date Delivered to Star Bulk
1		Goliath		Newcastlemax		209,537		2015		15-Jul-15
2		Gargantua		Newcastlemax		209,529		2015		02-Apr-15
3		Maharaj		Newcastlemax		209,472		2015		15-Jul-15
4		Deep Blue		Capesize		182,608		2015		27-May-15
5		Leviathan		Capesize		182,511		2014		19-Sep-14
6		Peloreus		Capesize		182,496		2014		22-Jul-14
7		Indomitable		Capesize		182,476		2015		08-Jan-15
8		Obelix		Capesize		181,433		2011		11-Jul-14
9		Christine		Capesize		180,274		2010		31-Oct-14
10		Sandra		Capesize		180,274		2008		29-Dec-14
11		Pantagruel		Capesize		180,181		2004		11-Jul-14
12		Star Borealis		Capesize		179,678		2011		09-Sep-11
13		Star Polaris		Capesize		179,600		2011		14-Nov-11
14		Star Angie		Capesize		177,931		2007		29-Oct-14
15		Big Fish		Capesize		177,643		2004		11-Jul-14
16		Kymopolia		Capesize		176,990		2006		11-Jul-14
17		Big Bang		Capesize		174,109		2007		11-Jul-14
18		Star Aurora		Capesize		171,199		2000		08-Sep-10
19		Lowlands Beilun		Capesize		170,162		1999		29-Dec-14
20		Star Eleonora		Capesize		164,218		2001		03-Dec-14
21		Star Monisha		Capesize		164,218		2001		02-Feb-15
22		Amami		Post Panamax		98,681		2011		11-Jul-14
23		Madredeus		Post Panamax		98,681		2011		11-Jul-14
24		Star Sirius		Post Panamax		98,681		2011		07-Mar-14
25		Star Vega		Post Panamax		98,681		2011		13-Feb-14
26		Star Angelina		Kamsarmax		82,981		2006		05-Dec-14
27		Star Gwyneth		Kamsarmax		82,790		2006		05-Dec-14
28		Star Kamila		Kamsarmax		82,769		2005		03-Sep-14
29		Pendulum		Kamsarmax		82,619		2006		11-Jul-14
30		Star Maria		Kamsarmax		82,598		2007		05-Nov-14
31		Star Markella		Kamsarmax		82,594		2007		29-Sep-14
32		Star Danai		Kamsarmax		82,574		2006		21-Oct-14
33		Star Georgia		Kamsarmax		82,298		2006		14-Oct-14
34		Star Sophia		Kamsarmax		82,269		2007		31-Oct-14
35		Star Mariella		Kamsarmax		82,266		2006		19-Sep-14
36		Star Moira		Kamsarmax		82,257		2006		19-Nov-14
37		Star Nina		Kamsarmax		82,224		2006		05-Jan-15
38		Star Renee		Kamsarmax		82,221		2006		19-Dec-14
39		Star Nasia		Kamsarmax		82,220		2006		29-Aug-14
40		Star Laura		Kamsarmax		82,209		2006		09-Dec-14
41		Star Jennifer		Kamsarmax		82,209		2006		15-Apr-15
42		Star Helena		Kamsarmax		82,187		2006		29-Dec-14
43		Mercurial Virgo		Kamsarmax		81,545		2013		11-Jul-14
44		Magnum Opus		Kamsarmax		81,022		2014		11-Jul-14
45		Tsu Ebisu		Kamsarmax		81,001		2014		11-Jul-14
46		Star Iris		Panamax		76,466		2004		08-Sep-14
47		Star Aline		Panamax		76,429		2004		04-Sep-14
48		Star Emily		Panamax		76,417		2004		16-Sep-14
49		Star Natalie		Panamax		73,798		1998		29-Aug-14
50		Star Nicole		Panamax		73,751		1997		14-Jan-15
51		Star Vanessa		Panamax		72,493		1999		07-Nov-14
52		Star Claudia		Panamax		71,662		1997		20-Jan-15
53		Idee Fixe		Ultramax		63,458		2015		25-Mar-15
54		Roberta		Ultramax		63,426		2015		31-Mar-15
55		Laura		Ultramax		63,399		2015		07-Apr-15
56		Kaley		Ultramax		63,283		2015		26-Jun-15
57		Star Challenger		Ultramax		61,462		2012		12-Dec-13
58		Star Fighter		Ultramax		61,455		2013		30-Dec-13
59		Honey Badger		Ultramax		61,297		2015		27-Feb-15
60		Wolverine		Ultramax		61,297		2015		27-Feb-15
61		Star Aquarius		Ultramax		60,916		2015		22-Jul-15
62		Maiden Voyage		Supramax		58,722		2012		11-Jul-14
63		Strange Attractor		Supramax		55,742		2006		11-Jul-14
64		Star Omicron		Supramax		53,489		2005		17-Apr-08
65		Star Gamma		Supramax		53,098		2002		04-Jan-08
66		Star Zeta		Supramax		52,994		2003		02-Jan-08
67		Star Delta		Supramax		52,434		2000		02-Jan-08
68		Star Theta		Supramax		52,425		2003		06-Dec-07
69		Star Epsilon		Supramax		52,402		2001		03-Dec-07
70		Star Cosmo		Supramax		52,246		2005		01-Jul-08
71		Star Kappa		Supramax		52,055		2001		14-Dec-07
72		Star Michele		Handymax		45,588		1998		14-Oct-14
				Total operating dwt:		7,518,320

Newbuilding Vessels                        

		Vessel Name		Drybulk Vessel Type	Capacity (dwt.)		Shipyard		Expected Delivery  Date
1		HN NE 198 (tbn Star Poseidon)		Newcastlemax	209,000		NACKS, China		March 2016
2		HN 1359 (tbn Star Marisa)		Newcastlemax	208,000		SWS, China		November 2015
3		HN 1372 (tbn Star Libra)		Newcastlemax	208,000		SWS, China		November 2015
4		HN 1360 (tbn Star Ariadne)		Newcastlemax	208,000		SWS, China		February 2016
5		HN 1342 (tbn Star Gemini)		Newcastlemax	208,000		SWS, China		March 2016
6		HN 1371 (tbn Star Virgo)		Newcastlemax	208,000		SWS, China		February 2016
7		HN 1361 (tbn Star Magnanimus)		Newcastlemax	208,000		SWS, China		May 2016
8		HN 1343 (tbn Star Leo)		Newcastlemax	208,000		SWS, China		March 2016
9		HN 1363 (tbn Star Chaucer)		Newcastlemax	208,000		SWS, China		September 2016
10		HN 5055 (tbn Behemoth)		Capesize	182,000		JMU, Japan		January 2016
11		HN 5056 (tbn Megalodon)		Capesize	182,000		JMU, Japan		January 2016
12		HN 1312 (tbn Bruno Marks)		Capesize	180,000		SWS, China		September 2015
13		HN 1313 (tbn Jenmark)		Capesize	180,000		SWS, China		October 2015
14		HN 1338 (tbn Star Aries)		Capesize	180,000		SWS, China		November 2015
15		HN 1339 (tbn Star Taurus)		Capesize	180,000		SWS, China		March 2016
16		HN 1080 (tbn Kennadi)		Ultramax	64,000		New Yangzijiang, China		January 2016
17		HN 1081 (tbn Mackenzie)		Ultramax	64,000		New Yangzijiang, China		February 2016
18		HN 1082 (tbn Night Owl)		Ultramax	64,000		New Yangzijiang, China		March 2016
19		HN 1083 (tbn Early Bird)		Ultramax	64,000		New Yangzijiang, China		April 2016
20		HN NE 196 (tbn Star Antares)		Ultramax	61,000		NACKS, China		October 2015
21		HN NE 197 (tbn Star Lutas)		Ultramax	61,000		NACKS, China		January 2016
22		HN 5043 (tbn Star Pisces)		Ultramax	60,000		JMU, Japan		September 2015
				Total NB dwt:	3,395,000
				Total fully delivered dwt:	10,912,712

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. 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 94 vessels, with an aggregate capacity of 10.9 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 72 operating vessels and 22 newbuilding vessels under construction at shipyards in Japan and China. All of the newbuilding vessels are expected to be delivered during 2015 and 2016.

Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, examination by the Company's management of historical operating trends, data contained in its records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include general dry bulk shipping market conditions, including fluctuations in charterhire rates and vessel values, the strength of world economies, the stability of Europe and the Euro, fluctuations in interest rates and foreign exchange rates, changes in demand in the dry bulk shipping industry, including the market for our vessels, changes in our operating expenses, including bunker prices, dry docking and insurance costs, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, the availability of financing and refinancing, our ability to meet requirements for additional capital and financing to complete our newbuilding program and grow our business, vessel breakdowns and instances of off-hire, risks associated with vessel construction, potential exposure or loss from investment in derivative instruments, potential conflicts of interest involving our Chief Executive Officer, his family and other members of our senior management, and our ability to complete acquisition transactions as planned. Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.