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Monday, November 18, 2013

BRIEF-Star Bulk acquires two modern ultramax vessels, (NASDAQ: SBLK)

Star Bulk Carriers Corp : * Announces the acquisition of two modern ultramax vessels * Says deal for $58.1 million * Says entered into definitive agreements to acquire two modern ultramax bulk carriers from unaffiliated third party * Says upon completion of the acquisition, co will own 15 dry bulk vessels * Company also has a 9 vessels under order in Japan and China with expecteddeliveries in 2015 and early 2016 * Says plans to finance this acquisition in part through cash on hand and inpart through commercial bank debt financing * Source text for Eikon * Further company coverage

Star Bulk Carriers Corp. (Star Bulk) is an international company providing worldwide transportation of drybulk commodities through its vessel-owning subsidiaries for a broad range of customers of major and minor bulk cargoes including iron ore, coal, grain, cement and fertilizer. Shares of SBLK remained unchanged at $7.98. In the past year, the shares have traded as low as $5.28 and as high as $11.53. On average, 226802 shares of SBLK exchange hands on a given day and today's volume is recorded at 0.