Star Bulk takes eight ducklings under its wing
Fleet of drybulk carriers purchased from TMT Co Ltd...

Star Bulk Carriers Corp., a Marshall Islands corporation (“Star Bulk”) a wholly owned subsidiary of Star Maritime, has entered into definitive agreements to acquire a fleet of eight drybulk carriers consisting of two Capesize, one Panamax and five Supramax drybulk carriers with an average age of approximately 10 years and a combined cargo-carrying capacity of 691,213 deadweight tons from TMT Co., Ltd. (“TMT”). The aggregate purchase price is $345,237,520, consisting of $224,500,000 in cash and 12,537,645 shares of Star Bulk’s common stock.

Star Bulk's acquisition of the eight drybulk carriers is contingent upon the approval of the Redomiciliation Merger, following which Star Maritime will be merged out of existence and Star Bulk will be governed by the laws of the Republic of the Marshall Islands.

Set forth below is summary information for Star Bulk’s initial fleet.