Star Bulk Enters Into a One-Year Time Charter Agreement for the Star Theta

Star Bulk Carriers Corp. (NASDAQ: SBLK), today announced that it has entered into a time charter contract with Cargill International S.A for the vessel Star Theta, for a duration of approximately one year, at a gross daily rate of $14,100. The Star Theta is a Supramax vessel of 55,425 dwt built in 2003. The new contract will contribute a minimum of $4.5 million to a maximum of $5.6 million in gross revenue. The vessel is expected to be delivered to Cargill in October 2011.