XML 58 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6

Basis of Presentation and General Information

12 Months Ended

Dec. 31, 2012

Basis of Presentation and General Information [Abstract]

Basis of Presentation and General Information

1.            Basis of Presentation and General Information:

The accompanying consolidated financial statements as of and for the years ended December 31, 2010, 2011 and 2012 include the accounts of Star Bulk Carriers Corp. (Star Bulk) and its wholly owned subsidiaries (collectively, the “Company” or “we”).

Star Bulk was incorporated on December 13, 2006 under the laws of the Marshall Islands. The Company is engaged in the ocean transportation of dry bulk cargoes worldwide through the ownership and operation of dry bulk carrier vessels and is the sole owner of all of the outstanding shares of Star Bulk Management Inc., Star Bulk S.A, Star Bulk Manning LLC and the ship-owning subsidiaries as set forth below.

Since December 3, 2007, Star Bulk shares are trading on the NASDAQ Global Select Market under the ticker symbol SBLK. 

Effective October 15, 2012, the Company effected a 15-for-1 reverse stock split on its issued and outstanding common stock (Note 8). All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented.

Below is the list of the Company's wholly owned subsidiaries as of December 31, 2012:

Wholly Owned Subsidiaries		Vessel Name		DWT		Date Delivered to Star Bulk		Year Built
Star Bulk Management Inc.		—		—		—		—
Starbulk S.A.		—		—		—		—
Star Bulk Manning LLC		—		—		—		—
		Vessels in operation at December 31, 2012
Star Aurora LLC		Star Aurora		171.199		September 8, 2010		2000
Star Big LLC		Star Big		168.404		July 25, 2011		1996
Star Borealis LLC		Star Borealis		179.678		September 9, 2011		2011
Star Mega LLC		Star Mega		170.631		August 16, 2011		1994
Star Polaris LLC		Star Polaris		179.546		November 14, 2011		2011
Lamda LLC		Star Sigma		184.403		April 15, 2008		1991
Star Cosmo LLC		Star Cosmo		52.247		July 1, 2008		2005
Star Delta LLC		Star Delta (ex F Duckling)		52.434		January 2, 2008		2000
Star Epsilon LLC		Star Epsilon (ex G Duckling)		52.402		December 3, 2007		2001
Star Gamma LLC		Star Gamma (ex C Duckling)		53.098		January 4, 2008		2002
Star Kappa LLC		Star Kappa (ex E Duckling)		52.055		December 14, 2007		2001
Star Omicron LLC		Star Omicron		53.489		April 17, 2008		2005
Star Theta LLC		Star Theta (ex J Duckling)		52.425		December 6, 2007		2003
Star Zeta LLC		Star Zeta (ex I Duckling)		52.994		January 2, 2008		2003
		Vessels disposed*
Star Alpha LLC		Star Alpha (ex A Duckling)		175.075		January 9,2008		1992
Star Beta LLC		Star Beta (ex B Duckling)		174.691		December 28, 2007		1993
Star  Ypsilon LLC		Star Ypsilon		150.940		September 18, 2008		1991

*    For vessels disposed refer to Note 5.

Charterers individually accounting for more than 10% of the Company's voyage revenues during the years ended December 31, 2010, 2011 and 2012 are as follows:

Charterer		2010		2011		2012
A		21%		-		-
B		17%		-		-
C		13%		12%		-
D		10%		13%		-
E		14%		12%		14%
F		12%		19%		15%
G		-		15%		28%
H		-		-		10%

X

- Definition

The entire disclosure for the business description and basis of presentation concepts. Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).

+ References

No definition available.

+ Details

Name:	us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration