Star Bulk Carriers Corp. Announces Closing of Acquisition of 6 Dry Bulk Vessels From Eneti Inc.

Star Bulk Carriers Corp. (the “Company” or “Star Bulk”) (Nasdaq: SBLK) a global shipping company focusing on the transportation of dry bulk cargoes announced that it has taken delivery of six dry bulk vessels pursuant to the previously announced transaction with ENETI INC. (formerly known as SCORPIO BULKERS INC.). The seventh vessel of the transaction, SBI PEGASUS, is expected to be delivered to the Company within early second quarter of this year.

The Company issued to the ENETI affiliates 2,649,203 common shares representing the shares consideration for the acquisition of the six vessels and assumed outstanding lease obligations of approximately $86.9 million. Following the deliveries today, the Company has 101,888,919 common shares issued and outstanding. All six vessels are employed in the spot market.