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  <unit id="EUR">
    <measure>iso4217:EUR</measure>
  </unit>
  <us-gaap:SubsequentEventsTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;20.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subsequent Events:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On January 24, 2014, the Company entered into two agreements to acquire from Glocal Maritime Ltd, or &amp;#147;Glocal&amp;#148;, an unaffiliated third party, two 98,000 dwt Post Panamax vessels, GL Qushan (renamed Star Vega) and GL Daishan (renamed Star Sirius) built 2011, for an aggregate purchase price of $60,000. The vessels, upon their delivery, were chartered back to Glocal for a daily rate of $15.0 less brokerage commission of 1.25% until at least June 2016. Star Vega and Star Sirius were delivered to the Company on February 13, 2014 and March 7, 2014, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On January 27, 2014, the Company executed a commitment letter with Deutsche Bank AG for a new senior secured credit facility of up to $39,000 to be used to partially finance the two Post Panamax vessels Star Sirius and Star Vega which also provide the security for this senior credit facility. The final loan agreement was signed on March 14, 2014, and on March 18, 2014, the total amount of $39,000 was drawdown.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;In February 2014, Starbulk S.A. entered into separate agreements with Majestic Shipping LLC, Nautical Shipping LLC and Grain Shipping LLC, Marshall Islands companies, for the commercial and technical management of the vessels Madredeus and Amami, 2011 built Post Panamax dry bulk carriers, and Pendulum, a 2006 built Kamsarmax dry bulk carrier, respectively. Pursuant to the terms of these management agreements, Starbulk S.A. will receive a fixed management fee of $0.75 per day for each vessel, beginning on February 13 and 21, and March 20, 2014, respectively, and until the agreements' termination upon two months advanced written notice by either party. These vessels will be managed under the same strategy as the other vessels in the Company's fleet. Majestic Shipping LLC, Nautical Shipping LLC and Grain Shipping LLC, are owned and controlled by Oceanbulk Shipping LLC, a company minority owned by Mrs. Milena-Maria Pappas, one of the Company's directors.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 6, 2014, the Company signed the final loan agreement with HSH Nordbank AG (the Company was committed to this agreement as of December 24, 2013, Note 9) and on February 10, 2014, the total amount of $35,000 under the Company's new senior secured credit facility, was drawn down.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 17, 2014, Starbulk S.A entered into an agreement with Mineral Shipping LLC, a Marshall Islands company, for the commercial and technical management of the vessel Mercurial Virgo, a 2013 built Kamsarmax dry bulk carrier. Pursuant to the terms of this management agreement, Starbulk S.A. will receive a fixed management fee of $0.75 per day beginning on February 28, 2014, and until the agreement's termination upon two months advanced written notice by either party. This vessel will be managed under the same strategy as the other vessels in the Company's fleet. Mineral Shipping LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by Mrs. Milena-Maria Pappas, one of Company's directors.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 17, 2014, the Company entered into agreements, or the Bareboat Charters, with CSSC (Hong Kong) Shipping Company Limited, or CSSC, an affiliate of Shanghai Waigaoqiao Shipbuilding Co. Ltd of China, or SWS, to bareboat charter two fuel efficient Newcastlemax dry bulk vessels (hull numbers 1372 and 1371) each with a cargo carrying capacity of 208,000 deadweight tons, which are currently under construction. The Bareboat Charters with monthly hire rates ranging between $362 to $411 plus Libor, per vessel and a 10-year term that is expected to commence when the vessels are delivered to the Company, which is scheduled for November 2015 and February 2016, respectively. Under the terms of the Bareboat Charters, the Company is required to pay CSSC $23,100 equal to 20% of the construction price of $59,000 for Hull 1372 and $56,500 for Hull 1371, representing the upfront hire for the two CSSC Vessels in two equal installments, the first of which was paid on signing the Bareboat Charters and the second installment is due upon the completion of the steel-cutting stage of the construction of each CSSC Vessel. The Company is also obliged to pay an amount of $924 representing handling fees in two equal installments, the first of which was paid on signing the Bareboat Charters and the second installment is due in one year. Under the terms of the Bareboat Charters, the Company has option to purchase the CSSC Vessels at any time, which are exercisable on a monthly basis against a pretedermined, amortizing balance payment whilst it has a respective obligation at the expiration of the bareboat term. Upon the earlier of the exercise of the purchase options or the expiration of the Bareboat Charters, the Company will own the CSSC Vessels. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 20, 2014, the Company's Board of Directors approved the Company's 2014 Equity Incentive Plan (the &amp;#147;2014 Equity Incentive Plan&amp;#148;). The Company reserved a total of 430,000 shares of common stock for issuance under the 2014 Equity Incentive Plan. On the same date, 402,167 restricted common shares were granted to certain directors, officers, employees of the Company. The fair value of each share was $10.86 and has been determined by reference to the closing price of the Company's common stock on the grant date. The respective shares will be issued in March 2014 and will vest in March 2015. In addition, the Company plans to issue 9,333 common shares to its Chief Executive Officer in March 2014 and the shares will vest on May 3, 2014 under the terms of his consultancy agreement dated May 3, 2013. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 25, 2014, the Company acquired 33% of the total outstanding common stock of Interchart (Note 3 (a)) for a total consideration of $400, consisting of $200 in cash and 22,598 SBLK restricted common shares to be issued on March 31, 2014.On February 25, 2014, the Company entered into a services agreement &amp;#160;or the Services Agreement, with Interchart (Note 3 (a)), for chartering, brokering and commercial services for our vessels for an annual fee of &amp;#128;500,000 (approx. $690, using the exchange rate as of December 31, 2013, eur/usd 1.38). This fee is adjustable for changes in our fleet pursuant to the terms of the Services Agreement. Under the Services Agreement, all previously agreed upon brokerage commissions due to Interchart are canceled retroactively from January 1, 2014.&lt;/font&gt;&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;19.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value measurement&lt;/b&gt;s:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The guidance related to Fair Value Measurements requires that assets and liabilities carried at fair value should be classified and disclosed in one of the following three categories based on the inputs used to determine its fair value:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Level 1:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Quoted market prices in active markets for identical assets or liabilities;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Level 2:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Observable market based inputs or unobservable inputs that are corroborated by market data;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Level 3:&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Unobservable inputs that are not corroborated by market data.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Fair value on a recurring basis&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;19.1&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Freight derivatives and bunker derivative&lt;/b&gt;s:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The Company trades in the freight derivatives (FFAs and freight options) and bunker derivatives markets with an objective to utilize those instruments as economic hedge instruments that can be highly effective in reducing the risk on specific vessels trading in the spot market and to take advantage of short term fluctuations in the market prices. Freight derivatives and bunker derivatives trading do not qualify for cash flow hedges for accounting purposes, therefore resulting gains or losses are recognized in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Dry bulk shipping freight derivatives have the following characteristics: they cover periods from several days and months to one year or more years; they can be based on time charter rates or freight rates on specific quoted routes; they are executed between two parties. All Company's freight derivatives are cleared transactions. All of the Company's FFAs are settled on a daily basis through the London Clearing House (LCH). There is also a margin maintenance requirement based on marking the contract to market. Freight options are treated as assets/liabilities until they are settled. During 2011 and 2012, the Company entered into several Freight derivatives, including freight options. For the year ended December 31, 2011, the loss on freight derivatives contracts was $390 and for the year ended December 31, 2012 the gain on freight derivative contracts was $41, and are included under " Loss/(gain) on derivative instruments, net&amp;#148; in the accompanying consolidated statements of operations. During 2013, the Company did not enter into any Freight derivatives.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Bunker derivatives are agreements between two parties to exchange cash flows at a fixed price on bunkers, where volume, time period and price are agreed in advance. The Company's derivatives are traded as a derivative on the over-the-counter (OTC) market. During the years ended December 31, 2011, 2012 and 2013, the Company did not enter into bunker swap contracts and therefore no gain or loss was recognized. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and 2013, no fair value measurement for assets or liabilities were recognized in the Company's consolidated balance sheets , since the Company had no open positions on freight and bunker derivatives.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;19.2&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Interest rate swaps:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;In June, 2013, the Company entered into two interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to its variable interest loans and credit facilities. The Company's interest rate swaps did not qualify for hedge accounting and therefore resulting gains or losses are recognized in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had outstanding two interest rate swap agreements of $26,840 and $28,628 notional amount, which will be in effect from the second half of 2014 and maturing in August and in November of 2018, respectively. As of December 31, 2013, the fair value of derivative instruments asset, determined through Level 2 inputs of the fair value hierarchy as described above, was $91. The change in the fair market value of the respective agreements for the year ended December 31, 2013, resulted in a gain of $91 and is included under "Loss/(gain) on derivative instruments, net" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The total change of the Company's derivatives' fair value for the years ended December 31, 2011, 2012 and 2013, was a loss of $390, a gain of $41 and a gain of $91 , respectively and are included under &amp;#160;"Loss/(gain) on derivative instruments, net" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:204px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:204px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Freight Derivatives (gain)/loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$390&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(41) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:204px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Interest rate swaps (gain)/loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$(91) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:204px;height:16px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$390&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(41) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$(91) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The following table summarizes the valuation of the Company's financial instruments as of December 31, 2012 and 2013&lt;/font&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:28px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:411px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs &lt;br/&gt;(Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:28px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:150px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:150px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;Interest rate swaps - asset position&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:150px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;$ -&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;&amp;#160;91&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:150px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ 0&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;91&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:150px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:238px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:22px;"&gt;&lt;/td&gt;
    &lt;td style="width:150px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:27px;"&gt;&lt;/td&gt;
    &lt;td style="width:138px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:6.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair value of long-term bank loans and non-current restricted cash balances, bearing interest at variable interest rates, approximate their recorded values as of December 31, 2013.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:10.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Fair value on a nonrecurring basis&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As a result of the decline in charter rates and vessel values during the previous four years and because market expectations for future rates were low and vessel values were unlikely to increase to the high levels of 2008, the Company reviewed, as of December 31, 2011 and September 30, 2012, the carrying amount in connection with the estimated recoverable amount for each of its vessels. The review as of December 31, 2011 indicated that such carrying amount was not recoverable for two of the Company's vessels, Star Ypsilon and Star Sigma and as of September 30, 2012 indicated that such carrying amount was not recoverable for the Company's eight Supramax vessels and one of the Company's oldest Capesize vessel, Star Sigma, which was sold in April 2013 (Note 5). Details of the impairment charge for each vessel in 2011 are noted in the table below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="4" style=" border:solid #000000 0.0px;width:394px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair Value Measurements Using&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Quoted Prices in Active Markets for Identical Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Unobservable Inputs &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel impairment loss&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 1)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Ypsilon&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;11,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;30,754&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Sigma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;31,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;TOTAL&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;25,500&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;62,020&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="6" style=" border:solid #000000 0.0px;width:564px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Details of the impairment charge for each vessel in 2012 are noted in the table below.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="3" style=" border:solid #000000 0.0px;width:370px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair Value Measurements Using&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Quoted Prices in Active Markets for Identical Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Unobservable Inputs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel impairment loss&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 1)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Cosmo&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;45,838&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Delta&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;12,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;35,836&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Epsilon&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;13,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36,756&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Gamma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36,033&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Kappa&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;13,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;39,115&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Omicron&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;17,750&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;39,841&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Theta&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;15,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36,784&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Zeta&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;15,250&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;29,811&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Sigma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;9,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,205&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;TOTAL&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;123,500&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;303,219&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:111px;"&gt;&lt;/td&gt;
    &lt;td style="width:148px;"&gt;&lt;/td&gt;
    &lt;td style="width:128px;"&gt;&lt;/td&gt;
    &lt;td style="width:93px;"&gt;&lt;/td&gt;
    &lt;td style="width:24px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The fair value is based on the Company's best estimate of the value of each vessel on a time charter free basis, and is supported by vessel valuations of independent shipbrokers as of December 31, 2011 and September 30, 2012. The Company recognized a total impairment loss of $62,020 and $303,219, which was included under "Vessel impairment loss" in the accompanying consolidated statements of operations for the years ended December 31, 2011 and 2012, respectively.&lt;/font&gt;&lt;font style="font-family:Georgia;font-size:13.3px;color:#000000; "&gt; &lt;/font&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;During 2013, no impairment loss was recorded, since the Company concluded that there were no indications for any further impairment.&amp;#8195;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="4" style=" border:solid #000000 0.0px;width:394px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair Value Measurements Using&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Quoted Prices in Active Markets for Identical Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Unobservable Inputs &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel impairment loss&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 1)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Ypsilon&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;11,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;- &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;30,754&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Sigma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;31,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;TOTAL&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;25,500&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;62,020&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:118px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" colspan="6" style=" border:solid #000000 0.0px;width:564px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Details of the impairment charge for each vessel in 2012 are noted in the table below.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="3" style=" border:solid #000000 0.0px;width:370px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair Value Measurements Using&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Quoted Prices in Active Markets for Identical Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Unobservable Inputs&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel impairment loss&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 1)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Level 3)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Cosmo&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;45,838&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Delta&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;12,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;35,836&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Epsilon&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;13,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36,756&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Gamma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36,033&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Kappa&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;13,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;39,115&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Omicron&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;17,750&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;39,841&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Theta&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;15,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36,784&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Zeta&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;15,250&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;29,811&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Star Sigma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;9,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,205&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;TOTAL&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;123,500&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;303,219&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:111px;height:15px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:148px;"&gt;&lt;div style="margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:82px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:111px;"&gt;&lt;/td&gt;
    &lt;td style="width:148px;"&gt;&lt;/td&gt;
    &lt;td style="width:128px;"&gt;&lt;/td&gt;
    &lt;td style="width:93px;"&gt;&lt;/td&gt;
    &lt;td style="width:24px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:28px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:411px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs &lt;br/&gt;(Level 2)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:28px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:150px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;"&gt;&lt;div style="text-align:center;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:150px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;Interest rate swaps - asset position&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:150px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;$ -&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;&amp;#160;91&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:15px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:150px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ 0&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;&amp;#160;91&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:238px;height:14px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:22px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:150px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:27px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:138px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:238px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:22px;"&gt;&lt;/td&gt;
    &lt;td style="width:150px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:27px;"&gt;&lt;/td&gt;
    &lt;td style="width:138px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
  <us-gaap:ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:204px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:204px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Freight Derivatives (gain)/loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$390&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(41) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:204px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Interest rate swaps (gain)/loss&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$(91) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:204px;height:16px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$390&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:95px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(41) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$(91) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock>
  <sblk:VesselOperatingExpensesTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel operating expenses&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Crew wages and related costs &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;12,938&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;14,498&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;14,355&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Insurances&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,655&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,968&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Maintenance, Repairs, Spares and Stores&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;6,130&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;6,779&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;5,772&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Lubricants&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,189&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,046&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,339&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Tonnage taxes&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;123&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;169&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;797&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Upgrading expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;789&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;19&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;205&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Miscellaneous&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;679&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;666&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;651&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total vessel operating expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;25,247&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;27,832&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;27,087&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:VesselOperatingExpensesTableTextBlock>
  <sblk:VoyageExpensesTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Voyage &amp;#160;expenses&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Port charges &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;694&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;2,484&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;1,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Bunkers&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;915&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;10,788&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,338&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Commissions -&amp;#160;third parties&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,347&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;947&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Commissions -&amp;#160;related parties (Note 3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,134&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;773&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Chartered-in vessel expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;17,909&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,050&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Miscellaneous&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;327&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;195&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;116&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total voyage expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ 22,429&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;19,598&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;7,549&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:VoyageExpensesTableTextBlock>
  <us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:176px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years ending December 31, &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;161,280&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;139,340&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2019 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$300,620&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock>
  <us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 122.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years ending December 31, &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount*&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;&amp;#160;25,811&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;7,917&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2019 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$33,728&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:308px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock>
  <us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Audit fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$159&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$255&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Legal fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;7&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;159&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Other professional fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;26&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;262&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;Vessel Operating and voyage expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,835&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,734&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Loan interest and financing fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,395&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,091&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total Accrued Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$3,422&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$3,501&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfAccruedLiabilitiesTableTextBlock>
  <us-gaap:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:43px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:123px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Weighted Average Grant Date Fair Value&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,082&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$39.90&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;49,867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;35.70&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(24,949&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;35.10&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;28,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;28,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;90,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;13.50&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(100,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;15.67&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;279,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;6.43&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(21,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;19.71&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;7.46&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Loss) / Income:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Net (loss) / income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;$(69,559)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(314,521&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,850&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Basic&lt;/b&gt; (&lt;b&gt;loss) / earnings per share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Weighted average common shares outstanding, basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,736,485 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;5,393,131 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,051,344 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Basic (loss) / earnings per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(14.69) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(58.32)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;0.13 &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Effect of dilutive securities:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Dillutive effect of non vested shares&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;65,045 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Weighted average common shares outstanding, diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,736,485 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;5,393,131 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,116,389 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Diluted (loss) / earnings per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(14.69)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(58.32)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;0.13&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 46.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ 18,286&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;28,215&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;96,745&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,941&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;43,147&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2019 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$190,334&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock contextRef="fyp0d">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;December 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;5,080&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;December 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;2,898&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;7,978&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock>
  <sblk:FairValueOfAboveBelowMarketAcquiredTimeChartersTableTextBlock contextRef="fyp0d">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;height:43px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair value of acquired &amp;#160;time charter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2010&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amortization 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amortization 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amortization 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:9px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:291px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair Value of below market acquired time charter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Star Cosmo&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;3,856&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;452&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;452&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;3,856&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;452&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;452&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:291px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair value of above market acquired time charter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Star Big&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13,733&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,180&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12,553&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,224&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;9,329&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,216&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;6,113&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Star Mega&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;9,332&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,186&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;8,146&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,145&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;5,001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,136&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,865&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;23,065&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2,366&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;20,699&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;6,369&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;14,330&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;6,352&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;7,978&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:FairValueOfAboveBelowMarketAcquiredTimeChartersTableTextBlock>
  <sblk:AdvancesForVesselsAcquisitionsTableTextBlock contextRef="fyp0d">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:28px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pre-delivery Yard installments &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;66,780&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:27px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Capitalized interest and finance costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;633&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other capitalized costs (Note 3) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;519.0&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Total&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;67,932&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:AdvancesForVesselsAcquisitionsTableTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="fyp0d">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;772,981&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;481,086&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Other fixed assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;679&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,083&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Impairment charge&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(303,219&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;470,441&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;482,169&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Accumulated depreciation&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(179,234&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(155,495)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessels and other fixed assets, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;291,207&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;326,674&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
  <us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="fyp0d">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Lubricants&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,985&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,726&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Bunkers&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,628&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;3,613&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;1,726&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
  <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="fyp0d">&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Balance Sheet&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (h)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;147&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Combine Marine Ltd (d)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Product Shipping &amp;amp; Trading S.A (n)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;56&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Maiden Voyage LLC (f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;211&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC (k)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;129&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;Pacific Cape Shipping LLC (l)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;48&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC (m)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;32&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;147&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;486&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Interchart Shipping Inc. (a)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;100&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;58&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management and Directors Fees (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;121&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;111&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Maiden Voyage LLC (f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;41&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (h)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;102&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC (i)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;83&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC LLC (g)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;64&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC (j) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;141&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;262&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;559&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Capitalized Expenses&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:28px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Advances for vessels under construction and acquisition of vessels and other assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:28px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;519&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Statements of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="23" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:308px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Commission on sale of vessel-Oceanbulk (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;91&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;90&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Voyage expenses-Interchart (a)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1,134&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;773&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Executive directors consultancy fees (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;3,505&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;453&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;528&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Non-executive directors compensation (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;151&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;124&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;114&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Office rent -&amp;#160;Combine Marine Inc (c)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;48&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Office rent - Combine Marine Ltd. (d)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;40&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;41&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Office setup expenses - Oceanbulk (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;148&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Maiden Voyage LLC (f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(128) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(163) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:342px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - OOCAPE1 Holdings LLC (h)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:23px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(76 ) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(274) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Premier Voyage LLC LLC (g)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(111) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Sea Cape Shipping LLC (i)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(93) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Glory Supra Shipping LLC (k)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(74) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Sky Cape Shipping LLC (j)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(56) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Pacific Cape Shipping LLC (l)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(52) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income Product Shipping &amp;amp; Trading S.A (n)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(242) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:312px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:9px;"&gt;&lt;/td&gt;
    &lt;td style="width:8px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:1px;"&gt;&lt;/td&gt;
    &lt;td style="width:5px;"&gt;&lt;/td&gt;
    &lt;td style="width:11px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:6px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:3px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:19px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:59px;"&gt;&lt;/td&gt;
    &lt;td style="width:9px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:5px;"&gt;&lt;/td&gt;
    &lt;td style="width:10px;"&gt;&lt;/td&gt;
    &lt;td style="width:3px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
    &lt;td style="width:15px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:47px;"&gt;&lt;/td&gt;
    &lt;td style="width:10px;"&gt;&lt;/td&gt;
    &lt;td style="width:4px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
  <us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Charterer&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;A&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;B&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;C&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;14%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;D&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;19%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;15%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;E&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;15%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;28%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;34%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;F&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRevenueByMajorCustomersByReportingSegmentsTableTextBlock>
  <sblk:ListVesselsUnderCommercialTechnicalManagementTableTextBlock contextRef="fyp0d">&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:171px;height:42px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Owning Company&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Effective Date&lt;br/&gt;of Management Agreement&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:171px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Kymopolia&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;January 30, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC *&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Obelix&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;181,433&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;October 19, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:16px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pacific Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pantagruel&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;October 24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Big Bang&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;August 30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Big Fish&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;177,662&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;October 18, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Adore Shipping Corp.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Renascentia&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;74,732&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;June 20, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Hamon Shipping Inc&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Marto&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;74,470&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;August 2, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Strange Attractor&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;September 24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC *&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Maiden Voyage&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;September 28, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Serenity Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Serenity I&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;53,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;June 11, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:ListVesselsUnderCommercialTechnicalManagementTableTextBlock>
  <sblk:ListNewbuildingsTableTextBlock contextRef="fyp0d">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="6" style=" border:solid #000000 0.0px;width:332px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;Newbuildings at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:183px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Expected Delivery Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CASTLE I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1342&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CASTLE II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1343&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;April 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR ENNEA LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull NE 198&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;March 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CAPE I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1338&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;October 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CAPE II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1339&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR ASIA I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 5040&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;June 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR ASIA II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 5043&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR AXE I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull NE 196&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;October 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR AXE II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull NE 197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;November 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:183px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:113px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:106px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:154px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:ListNewbuildingsTableTextBlock>
  <sblk:ListOfSubsidiariesTableTextBlock contextRef="fyp0d">&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
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    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:133px;height:43px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Date&lt;br/&gt;Delivered to Star Bulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Bulk Management Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Starbulk S.A.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Bulk Manning LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
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  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:301px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels in operation at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Aurora LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Aurora&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;171,199&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 8, 2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Big LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Big&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;168,404&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;July 25, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1996&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Borealis LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Borealis&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;179,678&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 9, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Mega LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Mega&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;170,631&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;August 16, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Polaris LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Polaris&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;179,600&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;November 14, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Challenger I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Challenger&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 12, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Challenger II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Fighter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Cosmo LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Cosmo&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,247&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;July 1, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Delta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Delta (ex F Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,434&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Epsilon LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Epsilon (ex G Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 3, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Gamma LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Gamma (ex C Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;53,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 4, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2002&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Kappa LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Kappa (ex E Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 14, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Omicron LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Omicron&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;53,489&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;April 17, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Theta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Theta (ex J Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,425&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 6, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Zeta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Zeta (ex I Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels disposed*&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Lamda LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Sigma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;184,403&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;April 15, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1991&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Alpha LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Alpha (ex A Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;175,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 9,2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1992&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Beta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Beta (ex B Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;174,691&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 28, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1993&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star &amp;#160;Ypsilon LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Ypsilon&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;150,940&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 18, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1991&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:ListOfSubsidiariesTableTextBlock>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Significant Accounting policies:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Principles of consolidation&lt;/b&gt;: The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"), which include the accounts of Star Bulk and its wholly owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated in consolidation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Bulk as the holding company determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under Accounting Standards Codification (&amp;#147;ASC&amp;#148;) 810 &amp;#147;Consolidation&amp;#148;, a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions. Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Variable interest entities (&amp;#147;VIE&amp;#148;) are entities as defined under ASC 810-10, that in general either do not have equity investors with voting rights or that have equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2012 and 2013, no such interest existed.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Use of estimates:&lt;/b&gt; The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Comprehensive income/ (loss):&lt;/b&gt; &amp;#160;&amp;#160;Statement of comprehensive income, presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. When applicable, the Company follows the provisions of ASC 220 &amp;#147;Comprehensive Income&amp;#148;, and presents items of net income, items of other comprehensive income (&amp;#147;OCI&amp;#148;) and total comprehensive income in two separate but consecutive statements. Reclassification adjustments between OCI and net income are required to be presented separately on the statement of comprehensive income. The Company has no such transactions which affect comprehensive income/ (loss) and, accordingly, comprehensive income / (loss) equals net income / (loss) for all periods presented. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;d)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Concentration of credit risk:&lt;/b&gt; Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents, restricted cash, trade accounts receivable and derivative contracts (bunker derivatives, freight derivatives and interest rate swaps). The Company's policy is to place cash and cash equivalents, restricted cash with financial institutions evaluated as being creditworthy and are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance by counter parties to derivative instruments; however, the Company a) in over-the-counter transactions limits its exposure by diversifying among counter parties with high credit ratings, and b) all of the Company's freight derivatives are cleared through London Clearing House (LCH).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;e)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Foreign currency transactions:&lt;/b&gt; The functional currency of the Company is the U.S. Dollar since its vessels operate in international shipping markets, and therefore primarily transact business in U.S. Dollars. The Company's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the period-end exchange rates. Resulting gains or losses are included in Interest and other income in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;f)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Cash and cash equivalents:&lt;/b&gt; The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;g)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Restricted cash:&lt;/b&gt; Restricted cash represents minimum cash deposits or cash collateral deposits required to be maintained with certain banks under the Company's borrowing arrangements. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;h)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Trade accounts receivable:&lt;/b&gt; The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;i)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories:&lt;/b&gt; Inventories consist of consumable lubricants and bunkers, which are stated at the lower of cost or market value. Cost is determined by the first in, first out method.&amp;#8195;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;j)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels, net:&lt;/b&gt; Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for her initial voyage. Subsequent expenditure, when it does not extend the useful life of the vessel, is charged to expense as incurred. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The cost of each of the Company's vessels is depreciated beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value (vessel's residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton). &amp;#160;Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;k)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Advances for vessels under construction:&lt;/b&gt; Advances made to shipyards during construction periods are classified as "Advances for vessels under construction" until the date of delivery and acceptance of the vessel, at which date they are reclassified to "Vessels and other fixed assets, net". Advances for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and other expenses directly related to the construction of the vessel. Financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;l)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value of above/below market acquired time charter:&lt;/b&gt; &amp;#160;The Company values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below market acquired time charters is determined by comparing existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. &amp;#160;Such intangible asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;m)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Impairment of long-lived assets:&lt;/b&gt; The Company follows guidance related to Impairment or Disposal of Long-lived Assets which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use of the asset is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. In this respect, management regularly reviews the carrying amount of the vessels on a vessel-by-vessel basis, when events and circumstances indicate that the carrying amount of the vessels might not be recoverable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2011 and September 30, 2012, the Company performed an impairment test of the Company's vessels due to the global economic downturn and the prevailing conditions in the shipping industry. The Company compared undiscounted cash flows to the carrying values of the Company's vessels to determine if the assets were impaired. In developing its estimates of future undiscounted cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, ship operating expenses, vessels' residual value, fleet utilization and the estimated remaining useful lives of the vessels. These assumptions are based on current market conditions and historical trends as well as future expectations. The projected net operating cash flows were determined by considering the charter revenues from existing time charters for the fixed vessel days and an estimated daily time charter equivalent for the unfixed days over the estimated remaining economic life of each vessel, net of brokerage commission expected outflows for scheduled vessel maintenance (dry-docking and special surveys) and vessel's operating expenses. Estimates of revenue are based on the current Forward Freight Agreements or &amp;#147;FFAs&amp;#148; rates for as long as they are available and historical average rates of similar size vessels for the period thereafter. As a result of this analysis, the Company determined that the carrying amount of Star Sigma and Star Ypsilon was not recoverable as of December 31, 2011, and an impairment loss of $62,020 was recognized. This analysis, for each of the Company's &amp;#160;vessels as of September 30, 2012, indicated that the carrying amount of the entire Supramax fleet and Star Sigma was not recoverable and after comparing the vessels' fair values to their carrying values, an impairment loss amounting to $303,219 was recognized. This analysis for the year ended December 31, 2013, indicated that the carrying amount of the Company's vessels was recoverable and therefore it concluded that no impairment charge was necessary (see Note 5 and 19).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;b&gt;n)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels held for sale: &lt;/b&gt;It is the Company's policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies a vessel as being held for sale when all of the following criteria are met: management has committed to a plan to sell this vessel; the vessel is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the vessel have been initiated; the sale of the vessel is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; the vessel is being actively marketed for sale at a price that is reasonable in relation to its current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded under "Vessel impairment loss" in accompanying consolidated statement of operations. The vessels are not depreciated once they meet the criteria to be classified as held for sale.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;o)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Financing costs:&lt;/b&gt; Fees paid to lenders or required to be paid to third parties on the lenders' behalf for obtaining new loans or for refinancing existing loans, are recorded as deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the duration of the respective loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period in which the repayment or refinancing is made, subject to the guidance regarding Debt Extinguishment. Any unamortized balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the respective credit facility in the period in which the refinancing occurs, subject to the provisions of the accounting guidance relating to Changes in Line-of-Credit or Revolving-Debt Arrangements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;p)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Pension and retirement benefit obligations&amp;#151;crew:&lt;/b&gt; The ship-owning subsidiaries included in the consolidated financial statements employ the crew on board under short-term contracts (usually up to eight months) and, accordingly, are not liable for any pension or post-retirement benefits.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;q)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Pension and retirement benefit obligations&amp;#151;administrative personnel:&lt;/b&gt; Administrative employees are covered by state-sponsored pension funds. Both employees and the Company are required to contribute a portion of the employees' gross salary to the fund. &amp;#160;The related expense is recorded under "General and administrative expenses" in the accompanying consolidated statements of operations. Upon retirement, the state-sponsored pension funds are responsible for paying the employees retirement benefits without recourse to the Company.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;r)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Stock incentive plan awards:&lt;/b&gt; &amp;#160;Share-based compensation represents vested and non-vested shares granted to employees and to directors, for their services, and is included in "General and administrative expenses" in the consolidated statements of operations. These shares are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. Guidance related to Stock Compensation describes two generally accepted methods of recognizing expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the ''accelerated method'', which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award and 2) the ''straight-line method'' which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated method.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;s)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Dry-docking and special survey expenses:&lt;/b&gt; &amp;#160;Dry-docking and special survey expenses are expensed when incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;t)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Accounting for revenue and related expenses: &lt;/b&gt;The Company generates its revenues from charterers for the charterhire of its vessels under two types of charters; under time charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charterhire rate and under voyage charter agreements, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified charter rate. Under time charters, voyage costs, such as fuel and port charges are borne and paid by the charterer. Company's time charter agreements are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with guidance related to Leases.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Voyage charter agreements are charter hires, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified charter rate. Revenue from voyage charter agreements is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized when arrangement exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue includes cash received prior to the balance sheet date and is related to revenue earned after such date. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any) as long term liability.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Furthermore, payments in advance for services are recorded as prepaid expenses.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Voyage expenses consist of bunker consumption, port expenses and agency fees related to the voyage. In addition, voyage expenses include expenses related to the charter -in of vessels owned by third parties, whenever this is required. Such expenses are recognized on a pro-rata basis over the duration of the voyage.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Brokerage commissions are paid by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses and vessel operating expenses are recognized as incurred.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;u)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value measurements:&lt;/b&gt; The Company follows the provisions of ASC 820 &amp;#147;Fair Value Measurements and Disclosures&amp;#148; which defines, and provides guidance as to the measurement of, fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entity's own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 19).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;v)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Earnings/ (loss) per common share:&lt;/b&gt; Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution assuming common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and assuming the hypothetical proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note 13).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;w)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Segment reporting:&lt;/b&gt; The Company reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the Chief Operating Officer who is the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;x)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Recent accounting pronouncements:&lt;/b&gt; There are no recent accounting pronouncements the adoption of which would have a material effect on the Company's consolidated financial statements in the current period.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;x)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Recent accounting pronouncements:&lt;/b&gt; There are no recent accounting pronouncements the adoption of which would have a material effect on the Company's consolidated financial statements in the current period.&lt;/font&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
  <us-gaap:SegmentReportingPolicyPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;w)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Segment reporting:&lt;/b&gt; The Company reports financial information and evaluates its operations by total charter revenues and not by the type of vessel, length of vessel employment, customer or type of charter. As a result, management, including the Chief Operating Officer who is the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus, the Company has determined that it operates under one reportable segment. Furthermore, when the Company charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.&lt;/font&gt;&lt;/div&gt;</us-gaap:SegmentReportingPolicyPolicyTextBlock>
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;v)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Earnings/ (loss) per common share:&lt;/b&gt; Earnings or loss per share are computed in accordance with guidance related to Earnings per Share. Basic earnings or loss per share are calculated by dividing net income or loss available to common shareholders by the basic weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution assuming common shares were issued for the exercise of outstanding in-the-money warrants and non-vested shares and assuming the hypothetical proceeds, including proceeds from warrant exercise and average unrecognized stock-based compensation cost thereof, were used to purchase common shares at the average market price during the period such warrants and non-vested shares were outstanding (Note 13).&lt;/font&gt;&lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:FairValueOfFinancialInstrumentsPolicy contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;u)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value measurements:&lt;/b&gt; The Company follows the provisions of ASC 820 &amp;#147;Fair Value Measurements and Disclosures&amp;#148; which defines, and provides guidance as to the measurement of, fair value. ASC 820 creates a hierarchy of measurement and indicates that, when possible, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value hierarchy gives the highest priority (Level 1) to quoted prices in active markets and the lowest priority (Level 3) to unobservable data, for example, the reporting entity's own data. Under the standard, fair value measurements are separately disclosed by level within the fair value hierarchy (Note 19).&lt;/font&gt;&lt;/div&gt;</us-gaap:FairValueOfFinancialInstrumentsPolicy>
  <sblk:RevenueAndExpenseRecognitionPolicy contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;t)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Accounting for revenue and related expenses: &lt;/b&gt;The Company generates its revenues from charterers for the charterhire of its vessels under two types of charters; under time charters, where a contract is entered into for the use of a vessel for a specific period of time and a specified daily charterhire rate and under voyage charter agreements, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified charter rate. Under time charters, voyage costs, such as fuel and port charges are borne and paid by the charterer. Company's time charter agreements are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, the charter rate is fixed and determinable, the vessel is made available to the lessee and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter agreement in accordance with guidance related to Leases.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Voyage charter agreements are charter hires, where a contract is made in the spot market for the use of a vessel for a specific voyage at a specified charter rate. Revenue from voyage charter agreements is recognized on a pro-rata basis over the duration of the voyage. Under voyage charter agreements, all voyage costs are borne and paid by the Company. Demurrage income, which is included in voyage revenues, represents payments by the charterer to the vessel owner when loading or discharging time exceeds the stipulated time in the voyage charter and is recognized when arrangement exists, services have been performed, the amount is fixed or determinable and collection is reasonably assured. Deferred revenue includes cash received prior to the balance sheet date and is related to revenue earned after such date. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining (if any) as long term liability.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Vessel operating expenses include crew wages and related costs, the cost of insurance and vessel registry, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes, regulatory fees, technical management fees and other miscellaneous expenses. Furthermore, payments in advance for services are recorded as prepaid expenses.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Voyage expenses consist of bunker consumption, port expenses and agency fees related to the voyage. In addition, voyage expenses include expenses related to the charter -in of vessels owned by third parties, whenever this is required. Such expenses are recognized on a pro-rata basis over the duration of the voyage.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Brokerage commissions are paid by the Company. Brokerage commissions are recognized over the related charter period and included in voyage expenses. Voyage expenses and vessel operating expenses are recognized as incurred.&lt;/font&gt;&lt;/div&gt;</sblk:RevenueAndExpenseRecognitionPolicy>
  <sblk:DryDockingCostsPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;s)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Dry-docking and special survey expenses:&lt;/b&gt; &amp;#160;Dry-docking and special survey expenses are expensed when incurred.&lt;/font&gt;&lt;/div&gt;</sblk:DryDockingCostsPolicyTextBlock>
  <us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;r)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Stock incentive plan awards:&lt;/b&gt; &amp;#160;Share-based compensation represents vested and non-vested shares granted to employees and to directors, for their services, and is included in "General and administrative expenses" in the consolidated statements of operations. These shares are measured at their fair value equal to the market value of the Company's common stock on the grant date. The shares that do not contain any future service vesting conditions are considered vested shares and the total fair value of such shares is expensed on the grant date. Guidance related to Stock Compensation describes two generally accepted methods of recognizing expense for non-vested share awards with a graded vesting schedule for financial reporting purposes: 1) the ''accelerated method'', which treats an award with multiple vesting dates as multiple awards and results in a front-loading of the costs of the award and 2) the ''straight-line method'' which treats such awards as a single award and results in recognition of the cost ratably over the entire vesting period. The shares that contain a time-based service vesting condition are considered non-vested shares on the grant date and a total fair value of such shares is recognized using the accelerated method.&lt;/font&gt;&lt;/div&gt;</us-gaap:ShareBasedCompensationOptionAndIncentivePlansPolicy>
  <sblk:PensionAndRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;q)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Pension and retirement benefit obligations&amp;#151;administrative personnel:&lt;/b&gt; Administrative employees are covered by state-sponsored pension funds. Both employees and the Company are required to contribute a portion of the employees' gross salary to the fund. &amp;#160;The related expense is recorded under "General and administrative expenses" in the accompanying consolidated statements of operations. Upon retirement, the state-sponsored pension funds are responsible for paying the employees retirement benefits without recourse to the Company.&lt;/font&gt;&lt;/div&gt;</sblk:PensionAndRetirementBenefitObligationsAdministrativePersonnelPolicyTextBlock>
  <sblk:PensionAndRetirementBenefitObligationsCrewPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;p)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Pension and retirement benefit obligations&amp;#151;crew:&lt;/b&gt; The ship-owning subsidiaries included in the consolidated financial statements employ the crew on board under short-term contracts (usually up to eight months) and, accordingly, are not liable for any pension or post-retirement benefits.&lt;/font&gt;&lt;/div&gt;</sblk:PensionAndRetirementBenefitObligationsCrewPolicyTextBlock>
  <us-gaap:DebtPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;o)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Financing costs:&lt;/b&gt; Fees paid to lenders or required to be paid to third parties on the lenders' behalf for obtaining new loans or for refinancing existing loans, are recorded as deferred charges. Deferred charges are expensed as interest and finance costs using the effective interest rate method over the duration of the respective loan facility. Any unamortized balance of costs relating to loans repaid or refinanced is expensed in the period in which the repayment or refinancing is made, subject to the guidance regarding Debt Extinguishment. Any unamortized balance of costs related to credit facilities repaid is expensed in the period. Any unamortized balance of costs relating to credit facilities refinanced is deferred and amortized over the term of the respective credit facility in the period in which the refinancing occurs, subject to the provisions of the accounting guidance relating to Changes in Line-of-Credit or Revolving-Debt Arrangements.&lt;/font&gt;&lt;/div&gt;</us-gaap:DebtPolicyTextBlock>
  <sblk:VesselsHeldForSalePolicyTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;b&gt;n)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels held for sale: &lt;/b&gt;It is the Company's policy to dispose of vessels when suitable opportunities occur and not necessarily to keep them until the end of their useful life. The Company classifies a vessel as being held for sale when all of the following criteria are met: management has committed to a plan to sell this vessel; the vessel is available for immediate sale in its present condition; an active program to locate a buyer and other actions required to complete the plan to sell the vessel have been initiated; the sale of the vessel is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; the vessel is being actively marketed for sale at a price that is reasonable in relation to its current fair value and actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less cost to sell. The resulting difference, if any, is recorded under "Vessel impairment loss" in accompanying consolidated statement of operations. The vessels are not depreciated once they meet the criteria to be classified as held for sale.&lt;/font&gt;&lt;/div&gt;</sblk:VesselsHeldForSalePolicyTextBlock>
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;m)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Impairment of long-lived assets:&lt;/b&gt; The Company follows guidance related to Impairment or Disposal of Long-lived Assets which addresses financial accounting and reporting for the impairment or disposal of long-lived assets. The standard requires that long-lived assets and certain identifiable intangibles held and used by an entity be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. When the estimate of undiscounted cash flows, excluding interest charges, expected to be generated by the use of the asset is less than its carrying amount, the Company should evaluate the asset for an impairment loss. Measurement of the impairment loss is based on the fair value. In this respect, management regularly reviews the carrying amount of the vessels on a vessel-by-vessel basis, when events and circumstances indicate that the carrying amount of the vessels might not be recoverable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2011 and September 30, 2012, the Company performed an impairment test of the Company's vessels due to the global economic downturn and the prevailing conditions in the shipping industry. The Company compared undiscounted cash flows to the carrying values of the Company's vessels to determine if the assets were impaired. In developing its estimates of future undiscounted cash flows, the Company makes assumptions and estimates about vessels' future performance, with the significant assumptions being related to charter rates, ship operating expenses, vessels' residual value, fleet utilization and the estimated remaining useful lives of the vessels. These assumptions are based on current market conditions and historical trends as well as future expectations. The projected net operating cash flows were determined by considering the charter revenues from existing time charters for the fixed vessel days and an estimated daily time charter equivalent for the unfixed days over the estimated remaining economic life of each vessel, net of brokerage commission expected outflows for scheduled vessel maintenance (dry-docking and special surveys) and vessel's operating expenses. Estimates of revenue are based on the current Forward Freight Agreements or &amp;#147;FFAs&amp;#148; rates for as long as they are available and historical average rates of similar size vessels for the period thereafter. As a result of this analysis, the Company determined that the carrying amount of Star Sigma and Star Ypsilon was not recoverable as of December 31, 2011, and an impairment loss of $62,020 was recognized. This analysis, for each of the Company's &amp;#160;vessels as of September 30, 2012, indicated that the carrying amount of the entire Supramax fleet and Star Sigma was not recoverable and after comparing the vessels' fair values to their carrying values, an impairment loss amounting to $303,219 was recognized. This analysis for the year ended December 31, 2013, indicated that the carrying amount of the Company's vessels was recoverable and therefore it concluded that no impairment charge was necessary (see Note 5 and 19).&lt;/font&gt;&lt;/div&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsIncludingIntangibleAssetsPolicyPolicyTextBlock>
  <us-gaap:IntangibleAssetsFiniteLivedPolicy contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;l)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value of above/below market acquired time charter:&lt;/b&gt; &amp;#160;The Company values any asset or liability arising from the market value of the time charters assumed when a vessel is acquired. The value of above or below market acquired time charters is determined by comparing existing charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels are delivered. &amp;#160;Such intangible asset or liability is recognized ratably as an adjustment to revenues over the remaining term of the assumed time charter.&lt;/font&gt;&lt;/div&gt;</us-gaap:IntangibleAssetsFiniteLivedPolicy>
  <sblk:AdvancesForVesselsUnderConstructionPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;k)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Advances for vessels under construction:&lt;/b&gt; Advances made to shipyards during construction periods are classified as "Advances for vessels under construction" until the date of delivery and acceptance of the vessel, at which date they are reclassified to "Vessels and other fixed assets, net". Advances for vessels under construction also include supervision costs, amounts paid under engineering contracts, capitalized interest and other expenses directly related to the construction of the vessel. Financing costs incurred during the construction period of the vessels are also capitalized and included in the vessels' cost.&lt;/font&gt;&lt;/div&gt;</sblk:AdvancesForVesselsUnderConstructionPolicyTextBlock>
  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;j)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels, net:&lt;/b&gt; Vessels are stated at cost, which consists of the purchase price and any material expenses incurred upon acquisition, such as initial repairs, improvements, delivery expenses and other expenditures to prepare the vessel for her initial voyage. Subsequent expenditure, when it does not extend the useful life of the vessel, is charged to expense as incurred. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The cost of each of the Company's vessels is depreciated beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel's remaining economic useful life, after considering the estimated residual value (vessel's residual value is equal to the product of its lightweight tonnage and estimated scrap rate per ton). &amp;#160;Management estimates the useful life of the Company's vessels to be 25 years from the date of initial delivery from the shipyard. When regulations place limitations over the ability of a vessel to trade on a worldwide basis, its remaining useful life is adjusted at the date such regulations are adopted.&lt;/font&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <us-gaap:InventoryPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;i)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories:&lt;/b&gt; Inventories consist of consumable lubricants and bunkers, which are stated at the lower of cost or market value. Cost is determined by the first in, first out method.&amp;#8195;&lt;/font&gt;&lt;/div&gt;</us-gaap:InventoryPolicyTextBlock>
  <us-gaap:ReceivablesPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;h)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Trade accounts receivable:&lt;/b&gt; The amount shown as trade accounts receivable, at each balance sheet date, includes estimated recoveries from each voyage or time charter net of any provision for doubtful debts. At each balance sheet date, the Company provides for doubtful accounts on the basis of specific identified doubtful receivables.&lt;/font&gt;&lt;/div&gt;</us-gaap:ReceivablesPolicyTextBlock>
  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;g)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Restricted cash:&lt;/b&gt; Restricted cash represents minimum cash deposits or cash collateral deposits required to be maintained with certain banks under the Company's borrowing arrangements. In the event that the obligation relating to such deposits is expected to be terminated within the next twelve months, these deposits are classified as current assets; otherwise they are classified as non-current assets.&lt;/font&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;f)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Cash and cash equivalents:&lt;/b&gt; The Company considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.&lt;/font&gt;&lt;/div&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;e)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Foreign currency transactions:&lt;/b&gt; The functional currency of the Company is the U.S. Dollar since its vessels operate in international shipping markets, and therefore primarily transact business in U.S. Dollars. The Company's books of accounts are maintained in U.S. Dollars. Transactions involving other currencies during the period are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the consolidated balance sheet dates, monetary assets and liabilities, which are denominated in other currencies, are converted into U.S. Dollars at the period-end exchange rates. Resulting gains or losses are included in Interest and other income in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
  <us-gaap:ConcentrationRiskCreditRisk contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;d)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Concentration of credit risk:&lt;/b&gt; Financial instruments, which potentially subject the Company to significant concentrations of credit risk, consist principally of cash and cash equivalents, restricted cash, trade accounts receivable and derivative contracts (bunker derivatives, freight derivatives and interest rate swaps). The Company's policy is to place cash and cash equivalents, restricted cash with financial institutions evaluated as being creditworthy and are exposed to minimal interest rate and credit risk. The Company may be exposed to credit risk in the event of non-performance by counter parties to derivative instruments; however, the Company a) in over-the-counter transactions limits its exposure by diversifying among counter parties with high credit ratings, and b) all of the Company's freight derivatives are cleared through London Clearing House (LCH).&lt;/font&gt;&lt;/div&gt;</us-gaap:ConcentrationRiskCreditRisk>
  <us-gaap:ComprehensiveIncomePolicyPolicyTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Comprehensive income/ (loss):&lt;/b&gt; &amp;#160;&amp;#160;Statement of comprehensive income, presents the change in equity (net assets) during a period from transactions and other events and circumstances from non-owner sources. It includes all changes in equity during a period except those resulting from investments by shareholders and distributions to shareholders. When applicable, the Company follows the provisions of ASC 220 &amp;#147;Comprehensive Income&amp;#148;, and presents items of net income, items of other comprehensive income (&amp;#147;OCI&amp;#148;) and total comprehensive income in two separate but consecutive statements. Reclassification adjustments between OCI and net income are required to be presented separately on the statement of comprehensive income. The Company has no such transactions which affect comprehensive income/ (loss) and, accordingly, comprehensive income / (loss) equals net income / (loss) for all periods presented. &lt;/font&gt;&lt;/div&gt;</us-gaap:ComprehensiveIncomePolicyPolicyTextBlock>
  <us-gaap:UseOfEstimates contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Use of estimates:&lt;/b&gt; The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the accompanying consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.&lt;/font&gt;&lt;/div&gt;</us-gaap:UseOfEstimates>
  <us-gaap:ConsolidationPolicyTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Principles of consolidation&lt;/b&gt;: The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP"), which include the accounts of Star Bulk and its wholly owned subsidiaries referred to in Note 1 above. All intercompany balances and transactions have been eliminated in consolidation.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Bulk as the holding company determines whether it has controlling financial interest in an entity by first evaluating whether the entity is a voting interest entity or a variable interest entity. Under Accounting Standards Codification (&amp;#147;ASC&amp;#148;) 810 &amp;#147;Consolidation&amp;#148;, a voting interest entity is an entity in which the total equity investment at risk is sufficient to enable the entity to finance itself independently and provides the equity holders with the obligation to absorb losses, the right to receive residual returns and make financial and operating decisions. Star Bulk consolidates voting interest entities in which it owns all, or at least a majority (generally, greater than 50%), of the voting interest.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Variable interest entities (&amp;#147;VIE&amp;#148;) are entities as defined under ASC 810-10, that in general either do not have equity investors with voting rights or that have equity investors that do not provide sufficient financial resources for the entity to support its activities. A controlling financial interest in a VIE is present when a company absorbs a majority of an entity's expected losses, receives a majority of an entity's expected residual returns, or both. The company with a controlling financial interest, known as the primary beneficiary, is required to consolidate the VIE. The Company evaluates all arrangements that may include a variable interest in an entity to determine if it may be the primary beneficiary, and would be required to include assets, liabilities and operations of a VIE in its consolidated financial statements. As of December 31, 2012 and 2013, no such interest existed.&lt;/font&gt;&lt;/div&gt;</us-gaap:ConsolidationPolicyTextBlock>
  <sblk:VoyageVesselOperatingExpensesTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;18.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Voyage and Vessel Operating Expenses:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The amounts in the accompanying consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Voyage &amp;#160;expenses&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Port charges &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;694&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;2,484&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;1,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Bunkers&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;915&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;10,788&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,338&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Commissions -&amp;#160;third parties&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,347&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;947&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Commissions -&amp;#160;related parties (Note 3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,134&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;773&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Chartered-in vessel expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;17,909&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,050&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Miscellaneous&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;327&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;195&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;116&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total voyage expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;$ 22,429&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;19,598&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;7,549&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Georgia;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Georgia;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel operating expenses&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Crew wages and related costs &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;12,938&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;14,498&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;14,355&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Insurances&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,655&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,968&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Maintenance, Repairs, Spares and Stores&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;6,130&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;6,779&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;5,772&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Lubricants&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,189&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,046&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2,339&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Tonnage taxes&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;123&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;169&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;797&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Upgrading expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;789&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;19&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;205&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Miscellaneous&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;679&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;666&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;651&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total vessel operating expenses &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;25,247&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;27,832&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;27,087&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:VoyageVesselOperatingExpensesTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;17.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Commitments and Contingencies:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;1) Legal proceedings&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Company's vessels. The Company's vessels are covered for pollution in the amount of $1 billion per vessel per incident, by the Protection and Indemnity ( P&amp;amp;I) Association in which the Company's vessels are entered. The Company's vessels are subject to calls payable to their P&amp;amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. Such estimates are adjusted each year by the Board of Directors of the P&amp;amp;I Association until the closing of the relevant policy year, which generally occurs within three years from the end of the policy year. Supplemental calls, if any, are expensed when they are announced and according to the period they relate to. The Company is not aware of any supplemental calls in respect of any policy years other than those that have already been recorded in its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;a.The Company commenced in 2008 an arbitration proceeding as claimant against Oldendorff Gmbh &amp;amp; Co. KG of Germany ("Oldendorff"), seeking damages resulting from Oldendorff's repudiation of a charter party relating to the vessel Star Beta. Under the terms of the settlement agreement dated April 1, 2011 Oldendorff paid to the Company an amount of $9,000 which is included under "Other operational gain" in the accompanying consolidated statements of operations for the year ended December 31, 2011 (Note 11).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;b.The Company commenced arbitration proceedings against Ishhar Overseas that was the previous charterer of the vessels Star Epsilon and Star Kappa. The Company sought damages for repudiations of the charter parties due to early redelivery of the vessel as well as unpaid hire of $1,949. The Company pursued an interim award for such nonpayment of charter hire and an award for the loss of charter hire for the remaining period of the charter parties. Claim submissions were filed. As of December 31, 2011, the Company determined that this amount was not recoverable and recognized a provision for doubtful receivables, amounting to $1,949, which is included under "Bad debt expense" in the accompanying consolidated statements of operations for the year ended December 31, 2011. On September 5, 2012, a settlement agreement was signed between the shipowning companies of Star Epsilon and Star Kappa and Bhatia International Ltd, which is the parent company of Ishhar Overseas. Pursuant to the terms of this agreement the Company will receive an amount of $5,000 in seventeen installments. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The first installment of $500 was received upon the execution of the settlement agreement and the next sixteen monthly installments varying between $250 and $500 will be received on the last day of each month beginning from September 30, 2012. During the years ended December 31, 2012 and 2013, the Company received an amount of $2,514 and $2,500, respectively, under the respective agreement which is included under "Other operational gain" in the accompanying consolidated statements of operations for the years ended December 31, 2012 and 2013 (Note 11).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;c.During July 2010, a dispute arose between the Company and Deiulemar that was the charterer of the vessel Star Beta, for due hire and damages for the late redelivery of the vessel amounting to $1,732 which was included under "Trade accounts receivable, net", while the charterers have a counterclaim for the vessel's performance. Pursuant to a settlement agreement signed on February 20, 2012, the Company received the amount of $1,040, the arbitration proceedings were discontinued and each party released each other from its respective claim. This event qualified as an adjusting subsequent event under ASC 855 "Subsequent Events" and therefore the Company recognized a respective provision, amounting to $692, which was included under "Bad debt expense" in the accompanying consolidated statements of operations for the year ended December 31, 2011.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;d.In February 2011, Korea Line Corporation ("KLC"), charterers at the time of the vessel Star Gamma and of the vessel Star Cosmo commenced rehabilitation proceedings in Seoul, Korea. Under the rehabilitation plan approved by the KLC's creditors on October 14, 2011, the Company was entitled to receive an amount of $6,839, 37% of which will be repaid in cash over a period of ten years and the remaining 63% shall be converted into KLC's shares. The Company will receive one common share of KLC with par value of KRW 5,000 (approx. $0.0047) for each KRW 100,000 (approx. $0.09) of claim. Based on the terms of the rehabilitation plan, the shares of KLC will be locked up for six months before trade. The Company does not expect that will have either control or significant influence over KLC as a result of the shares entitled to receive under the terms of the rehabilitation plan. In addition, the Company entered into a direct agreement with the KLC under which the Company received an amount of $172 in October 2011 and an amount of $172 in January 2013, as part of the due hire for Star Gamma. Finally, the Company entered into two tripartite agreements with KLC and the sub-charterers of the vessels Star Gamma and Star Cosmo following the exercise of liens on the subhires due to KLC. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Under these agreements the Company received an amount of $86 from the Star Gamma subcharter in December 2011 and an amount of $121 in March 2012 from the Star Cosmo subcharterer. As of December 31, 2011, the Company determined that an amount of $498 was not recoverable due to the long term time period of KLC's rehabilitation plan and the uncertainty surrounding the continuation of KLC's operations and recognized a corresponding provision which is included under "Bad debt expense" in the accompanying consolidated statements of operations for the year ended December 31, 2011.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On November 19, 2012, the Company received 46,007 shares of KLC as part of the rehabilitation plan described above for the vessel Star Gamma, the shares were sold the same date at the average price of KRW 3,456. The cash proceeds from the sale of the respective shares amounted to $144. In December 2012, the Company also received an amount of $12 and $1 in cash, for Star Gamma and Star Cosmo respectively, pursuant to the terms of the rehabilitation plan. Total amount of $157 is included under "Other operational gain" in the accompanying consolidated statements of operations for the year ended December 31, 2012 (Note 11). In October 2013 the Company received an amount of $167 and $10 for Star Gamma and Star Cosmo respectively, pursuant to the terms of the rehabilitation plan, total amount of $177 included under "Other operational gain" in the accompanying consolidated statements of operations for the year ended December 31, 2013 (Note 11). The next bunch of 2,872 shares for the vessel Star Cosmo was released from lock up on June 4, 2013 and until December 31, 2013, the respective shares have not been sold.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;e.On June 28, 2013, the Company received a letter from the receivers of STX Pan Ocean Co. Ltd., or STX, terminating the charter agreement for the vessel Star Borealis, effective immediately. The vessel Star Borealis was on time charter at an average gross daily charter rate of $24.75 for the period from September 11, 2011 until July 11, 2021.The Company intends to vigorously pursue all amounts owed to it under the charter agreement, including any related damages caused by the termination of the charterparty, under the STX rehabilitation proceedings which have commenced in Korea. As of December 31, 2013, STX owes an amount of $654 for unpaid charter hire which will be offset with the payable due to STX for the bunkers on vessel at the date of its early delivery.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;f.In July 2011, the Company posted a cash collateral of &amp;#128;340,000 (approx. $470, using the exchange rate as of December 31, 2013, eur/usd 1.38), in Spain for Star Cosmo which had allegedly discharged oily water while sailing in Spanish waters in May 2011. Administrative investigations commenced locally. The cash collateral of &amp;#128;340,000 has been released to the Company in March 2012, after being replaced by a P&amp;amp;I Letter of undertaking. The fines imposed have now been reduced to &amp;#128;260,000 (approx. $359, using the exchange rate as of December 31, 2013, eur/usd 1.38) &amp;#160;and the Company plans to file an administrative appeal to further reduce them or have them revoked. Until an irrevocable judgment is issued, the Company cannot estimate its exposure. Up to $1 billion of the liabilities associated with the individual vessels' actions, mainly for sea pollution, are covered by the P&amp;amp;I Club Insurance. The Company has not accrued any amount for the specific case.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;g.In March 2013, the Company commenced arbitration proceedings against Hanjin HHIC-Phil Inc., the shipyard that constructed the Star Polaris, relating to engine failure the vessel experienced in Korea. This resulted in 142 off-hire days and the loss of $2,343 in revenues. The Company is additionally pursuing the cost of the repairs.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2) Future minimum contractual charter revenue&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Future minimum contractual charter revenue, based on vessels committed to non-cancellable, time charter contracts net of address commission which amounted to $1,295, as of December 31, 2013 will be:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 122.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years ending December 31, &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount*&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;&amp;#160;25,811&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;7,917&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2019 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:308px;height:20px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$33,728&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:308px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:70px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;*These amounts do not include any assumed off-hire except for the scheduled interim and special surveys of the vessels&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;3) Contractual obligations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As at December 31, 2013, the Company has entered into nine shipbuilding contracts for the construction of nine fuel efficient newbuilding vessels. The total net aggregate price for all nine newbuilding vessels is $367,400, payable in installments until their deliveries. The &lt;/font&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;remaining&lt;/font&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt; balance as of December 31, 2013 of $300,620 is payable as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 122.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:176px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years ending December 31, &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;161,280&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;139,340&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;2019 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:176px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$300,620&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;.&lt;/font&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;16.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Income Taxes:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Taxation on Marshall Islands Registered Companies&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Under the laws of the countries of the shipowning companies' incorporation and/or vessels' registration, the shipowning companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes, which have been included under "Vessel operating expenses" in the accompanying statements of operations.&lt;/font&gt;&lt;font style="font-family:Georgia;font-size:13.3px;color:#000000; "&gt; &lt;/font&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;In addition, effective January 1, 2013, each foreign flagged vessel managed in Greece by Greek or foreign ship management companies is subject to Greek tonnage tax, under the laws of the Greek Republic. The technical manager of the Company's vessels, Star Bulk Management Inc. (Note 1) which is established in Greece under Greek Law 89/67 is responsible for the filing and payment of the respective tonnage tax on behalf the Company. These tonnage taxes for 2013 amounted to $668, and have also been included under &amp;#147;Vessel operating expenses&amp;#148; in the accompanying 2013 statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Taxation on US Source Income -&amp;#160;Shipping Income&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The Company believes that it and its subsidiaries are exempt from U.S. federal income tax at 4% on U.S. source shipping income, as each vessel-operating subsidiary is organized in a foreign country that grants an equivalent exemption to corporations organized in the United States and the Company's stock is primarily and regularly traded on an established securities market in the United States, as defined by the Internal Revenue Code (IRC) of the United States. &amp;#160;Under IRS regulations, a Company's stock will be considered to be regularly traded on an established securities market if (i) one or more classes of its stock representing 50% or more of its outstanding shares, by voting power and value, is listed on the market and is traded on the market, other than in minimal quantities, on at least 60 days during the taxable year; (ii) the aggregate number of shares of stock traded during the taxable year is at least 10% of the average number of shares of the stock outstanding during the taxable year. Notwithstanding the foregoing, the regulations provide, in pertinent part, that each class of the Company's stock will not be considered to be &amp;#147;regularly traded&amp;#148; on an established securities market for any taxable year in which 50% or more of the vote and value of the outstanding shares of such class are owned, actually or constructively under specified stock attribution rules, on more than half the days during the taxable year by persons who each own 5% or more of the value of such class of the Company's outstanding stock, (&amp;#147;5 Percent Override Rule&amp;#148;).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#8195;&lt;/font&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;15.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Accrued Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Audit fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$159&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$255&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Legal fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;7&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;159&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Other professional fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;26&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;262&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;Vessel Operating and voyage expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,835&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,734&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Loan interest and financing fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,395&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,091&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:269px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total Accrued Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$3,422&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$3,501&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;.&lt;/font&gt;&lt;/div&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="fyp0d">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Equity Incentive Plan:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 23, 2010, the Company's Board of Directors approved the Company's Equity Incentive Plan (the 2010 Plan). The Plan is designed to provide certain key persons, whose initiative and efforts are deemed to be important to the successful conduct of the business of the Company with incentives to enter into and remain in the service of the Company, acquire a propriety interest in the success of the Company, maximize their performance and enhance the long-term performance of the Company. The Company has reserved a total of 133,333 shares of common stock for issuance under the 2010 Plan, subject to adjustment for changes in capitalization as provided in the 2010 Plan. As of December 31, 2013, all of the respective shares have been granted and vested in full.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On August 31, 2011, the Board of Directors adopted the 2011 Equity Incentive Plan (the 2011 Plan). The Company reserved a total of 133,333 shares of common stock for issuance under the 2011 Equity Incentive Plan, subject to adjustment for changes in capitalization as provided in such plan. All provisions of the 2011 Plan are similar with the 2007 and 2010 Plans provisions. As of December 31, 2013 133,333 shares have been granted and 122,573 of these shares have been vested.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On March 21, 2013, the Board of Directors adopted the 2013 Equity Incentive Plan (the 2013 Plan) and reserved for issuance 240,000 common shares thereunder. The terms and conditions of the 2013 Equity Incentive Plan are substantially similar to the terms and conditions of Company's previous Equity Incentive Plans. As of December 31, 2013, 237,907 shares have been granted and none of these shares have vested.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On March 21, 2013, 239,333 restricted common shares were granted to certain directors, officers, employees of the Company and its subsidiaries, under the 2011 and 2013 Equity Incentive Plans the respective shares issued on September 11, 2013, and will vest on March 21, 2014. Additionally, on the same day, 12,000 restricted common shares were granted to the Company's former director Mr. Espig, the respective share vested immediately and issued on June 27, 2013. The stock based compensation cost is amortized over the vesting period and based on the fair value of each share which has been determined by reference to the closing price of the Company's common stock on the grant date.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;All non-vested shares are conditional upon the grantee's continued service as an employee of the Company. The grantee does not have the right to vote such non-vested shares until they vest or exercise any right as a shareholder of these shares, however, the issued and non-vested shares pay dividends as declared. The dividends of these shares are forfeitable. &amp;#160;For the years ended December 31, 2011, 2012, and 2013 the Company paid dividends on non-vested shares which amounted to $29, $0 and $0, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The Company estimates that there will be no forfeitures of non-vested shares. The shares which are issued in accordance with the terms of the Company's Equity Incentive Plans remain restricted until they vest. For the years ended December 31, 2011, 2012 and 2013, stock based compensation cost was $1,362, $1,546 and $1,488 respectively, and is included under "General and administrative expenses" in the accompanying consolidated statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;A summary of the status of the Company's non-vested shares as of December 31, 2011, 2012 and 2013, and the movement during the years ended December 31, 2011, &amp;#160;2012 and 2013, is presented below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:43px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:123px;"&gt;&lt;div style="text-align:center;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Weighted Average Grant Date Fair Value&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,082&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$39.90&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;49,867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;35.70&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(24,949&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;35.10&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;28,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;28,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;90,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;13.50&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(100,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;15.67&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;18,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;36.75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:14px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;279,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;6.43&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(21,333&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;19.71&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:335px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Unvested as at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:66px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:67px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:123px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;7.46&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2013, there was $453 of total unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Equity Incentive Plans. The cost is expected to be recognized over a weighted-average period of 0.53 years. The total fair value of shares vested during the years ended December 31, 2011, 2012 and 2013 was $561, $1,386 and $136 respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:EarningsPerShareTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;13.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Earnings per Share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;All shares issued (including the restricted shares issued under the Company's equity incentive plan) are the Company's common stock and have equal rights to vote and participate in dividends, subject to forfeiture provisions set forth in the applicable award agreement. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed. For the years ended December 31, 2011 and 2012, and on the basis that the Company incurred losses, the effect of incremental shares of 37,359 and 0, respectively, would be anti-dilutive; therefore basic and diluted losses per share are the same amounts. The weighted average diluted common shares outstanding for the year ended December 31, 2013 included the effect of 65,045 shares being the number of incremental shares assumed to be issued under the treasury stock method.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The Company calculates basic and diluted losses per share as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(Loss) / Income:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Net (loss) / income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;$(69,559)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;(314,521&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;1,850&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Basic&lt;/b&gt; (&lt;b&gt;loss) / earnings per share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Weighted average common shares outstanding, basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,736,485 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;5,393,131 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,051,344 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Basic (loss) / earnings per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(14.69) &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(58.32)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;0.13 &amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Effect of dilutive securities:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Dillutive effect of non vested shares&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;65,045 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;Weighted average common shares outstanding, diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;4,736,485 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;5,393,131 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;14,116,389 &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:324px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Diluted (loss) / earnings per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:19px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(14.69)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;(58.32)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:85px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;0.13&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <sblk:OtherOperationalLossTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;12.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other Operational Loss:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On September 29, 2010, the Company agreed with a third party to sell a 45% interest in the future proceeds related to the recovery of certain of the commercial claims against a consideration of $5,000 (Note 17.1.(a) and (b)). During the year ended December 31, 2011 the Company paid $4,050 to the third party relating to the settlement of one of the legal cases included in the above mentioned agreement. This amount is presented in "Other operational loss" in the accompanying consolidated statements of operations. For the year ended December 31, 2012, other operational loss amounting to $1,226 mainly consists of an amount of $1,131 representing the expense incurred by the Company towards the third party mentioned above, in connection with the settlement of one of the legal cases also included in the above mentioned agreement. For the year ended December 31, 2013, other operational loss totaled $1,125, representing the expense incurred by the Company to a third party in connection to the settlement of a commercial claim, based on the same agreement. &lt;/font&gt;&lt;/div&gt;</sblk:OtherOperationalLossTextBlock>
  <sblk:OtherOperationalGainTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;11.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Other Operational Gain:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Other operational gain for the year ended December 31, 2011, totaled $9,260 and comprised of a consideration received of $9,000, related to the settlement of a commercial claim with Oldendorff Gmbh &amp;amp; Co. KG (Note 17.1.(a)), and a gain of $260 relating to a hull and machinery claim. For the year ended December 31, 2012, other operational gain totaling of $3,507, mainly consisted of $2,514 and $157, which represented non-recurring revenues from the settlement of two commercial claims (Note 17.1 (b) and (d)) and a gain from hull &amp;amp; machinery claim amounting to $812. For the year ended December 31, 2013, other operational gain totaled to $3,787 and mainly comprised of amounts $2,500 and $177, in connection with the settlement of two commercial claims (Note 17.1 (b) and (d)) and an amount of $1,030 regarding a gain from hull and machinery claim.&lt;/font&gt;&lt;/div&gt;</sblk:OtherOperationalGainTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;10.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Preferred, Common Stock and Additional Paid in Capital:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Preferred Stock&lt;/b&gt;: Star Bulk is authorized to issue up to 25,000,000 shares of preferred stock, $0.01 par value with such designations, as voting, and other rights and preferences, as determined by the Board of Directors. As of December 31, 2012 and 2013 the Company had not issued any preferred stock.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Common Stock&lt;/b&gt;: Star Bulk was authorized to issue 100,000,000 registered common shares, par value $0.01. On November 23, 2009 at the Company's annual meeting of shareholders, the Company's shareholders voted to approve an amendment to the Amended and Restated Articles of Incorporation increasing the number of common shares that the Company was authorized to issue from 100,000,000 registered common shares, par value $0.01 per share, to 300,000,000 registered common shares, par value $0.01 per share.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Each outstanding share of the Company's common stock entitles the holder to one vote on all matters submitted to a vote of shareholders. Subject to preferences that may be applicable to any outstanding shares of preferred stock, holders of shares of common stock are entitled to receive ratably all dividends, if any, declared by the Company's board of directors out of funds legally available for dividends. Holders of common stock do not have conversion, redemption or preemptive rights to subscribe to any of the Company's securities. All outstanding shares of common stock are fully paid and non-assessable. The rights, preferences and privileges of holders of common stock are subject to the rights of the holders of any shares of preferred stock which the Company may issue in the future.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 22, 2011, the Company offered 1,113,334 common shares in an underwritten public offering at a public offering price of $27.0 per share less underwriters' discount. All of the shares in the offering were sold by the Company. The Company used the net proceeds of this offering to fund a portion of the aggregate purchase price of the Star Big and the Star Mega and for working capital purposes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 25, 2013, pursuant to a rights offering, approved by the Company's Board of Directors in April 2013, the Company issued 15,338,861 shares of common stock, which resulted in net proceeds of $77,898 after deducting offering expenses of $2,167. The proceeds were primarily used for orders for fuel-efficient dry-bulk vessels with some of the proceeds being reserved for working capital and general corporate purposes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On October 7, 2013, the Company offered 8,050,000 common shares, in an underwritten public offering price of $8.80 per share less underwriters' discount. All of the shares in the offering were sold by the Company, which resulted in net proceeds of $68,124 after deducting offering expenses of $2,716. The Company used the net proceeds from this offering to partially fund the acquisition of Company's newbuilding vessels, for vessel acquisitions, and for general corporate purposes..&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;15-for-1 reverse stock split&lt;/b&gt;: Effective as of the opening of trading on October 15, 2012, the Company affected a one-for-fifteen reverse stock split of its common shares. The reverse stock split was approved by shareholders at the Company's 2012 Annual General Meeting of Shareholders held on September 7, 2012. The reverse stock split reduced the number of the Company's common shares from 81,012,403 to 5,400,810 and affected all issued and outstanding common shares. No fractional shares were issued in connection to the reverse split. Shareholders who would otherwise hold a fractional share of the Company's common stock received a cash payment in lieu of such fractional share.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Share re-purchase Plan:&lt;/b&gt; On February 23, 2010, the Company's Board of Directors adopted a stock repurchase plan for up to $30,000 to be used for repurchasing the Company's common shares until December 31, 2011. All repurchased shares will be cancelled and removed from the Company's share capital.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On August 10, 2011, the Company's Board of Directors decided to reinstate the share repurchase plan with the limitation of acquiring up to a maximum amount of $3,000 worth of Company's shares, at a maximum price of $19.5 per share. On November 9, 2011 the Company's Board of Directors extended the duration of the share repurchase plan until December 31, 2012.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;During the year ended December 31, 2012 the Company repurchased and cancelled 61,730 treasury shares, which were repurchased in the open market for an aggregate purchase price of $860, pursuant to the terms of Company's existing share repurchase plan and has $2,140 of remaining capacity under the plan.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;During the years ended December 31, 2011 and 2013, there were no shares repurchased.&lt;/font&gt;&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:LongTermDebtTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;9.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Long term Debt:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 43.6px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a) Commerzbank $120,000 facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On December 27, 2007, the Company entered into a loan agreement with Commerzbank AG in the amount of up to $120,000 in order to partially finance the acquisition cost of the second hand vessels, Star Gamma, Star Delta, Star Epsilon, Star Zeta, and Star Theta, which also provide the security for this loan agreement. Under the terms of this loan facility, the repayment of $120,000 is over a nine year term and divided into two tranches. The first of up to $50,000 is repayable in twenty-eight consecutive quarterly installments which commenced in January 2010: (i) the first four installments amount to $2,250 each, (ii) the next thirteen installments amount to $1,000 each (iii) the remaining eleven installments amount to $1,300 each and a final balloon payment of $13,700 is payable together with the last installment. The second tranche of up to $70,000 is repayable in twenty-eight consecutive quarterly installments which commenced in January 2010: (i) the first four installments amount to $4,000 each (ii) the remaining twenty-four installments amount to $1,750 each and a final balloon payment of $12,000 is payable together with the last installment. The loan bears interest at LIBOR plus a margin at a minimum of 0.8% per annum "p.a." to a maximum of 1.25% p.a. depending on whether the aggregate drawdown ranges from 60% up to 75% of the aggregate market value of the 'initial fleet'.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The loan contains financial covenants, including requirements to maintain (i) a minimum liquidity of $10,000 or $1,000 per vessel, whichever is greater (ii) the market value adjusted equity ratio shall not be less than 25%, as defined therein and (iii) an aggregate market value of the vessels mortgaged as security under this loan agreement not less than (a) 125% of the then outstanding borrowings for the first three years and (b) 135% of the then outstanding borrowings thereafter.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On June 10, 2009, the Company entered into a supplemental agreement with Commerzbank. Under the terms of this agreement during the waiver period from December 31, 2008 to January 31, 2010, the security cover requirement was reduced to 111%. As further security for this facility, the Company shall provide a first preferred mortgage on the vessel Star Alpha and shall pledge an amount of $6,000 to the lenders. Furthermore, the interest spread was increased to 2.00% p.a. for the duration of the waiver period. Subsequent to the waiver period, if the asset cover percentage is less than 60%, between 60% to 70%, between 70% to 75% and more than 75%, the interest spread should be 0.8%, 0.9%, 1.0% and 1.25% respectively. In addition, during the waiver period, payments of dividend, share repurchases and investments are subject to the prior written consent of the lenders.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On December 24, 2009, the Company entered into a second supplemental agreement with Commerzbank. Under the terms of this agreement during the waiver period from February 1, 2010 to June 30, 2010 and from July 1, 2010 to January 31, 2011 the security cover shall be at least 111% and 118%, respectively whether at all times thereafter 135%. Furthermore, the bank consented to: i) the sale of Star Alpha, ii) the payment of dividends not exceeding $0.05 per share in each quarter iii) the reduction of minimum liquidity from $1,000 to $650 per fleet vessel, iv) the increase of the pledged deposit by $1,250 from $6,000 to $7,250. The interest spread was also maintained to 2.00% p.a. for the duration of the waiver period. Based on the same agreement after the waiver period on January 31, 2011 the minimum liquidity was increased from $650 to $1,000 per fleet vessel and the pledged deposit of $7,250 was released.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and 2013, the Company had outstanding borrowings of $71,386 and $66,986 respectively, under this loan agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 19.6px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b) Commerzbank $26,000 facility&lt;/b&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On September 3, 2010 the Company entered into a loan agreement with Commerzbank AG in the amount of up to $26,000 in order to partially finance the acquisition cost of the second hand vessel, Star Aurora, which is also provided as security for this loan agreement. The loan is repayable over a six year period, in twenty-four consecutive quarterly installments of $950 each, which commenced in December 2010, three months after the drawdown, and a final balloon payment of $3,200 payable together with the last installment. The loan bears interest at LIBOR plus a margin of 2.6% p.a.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The loan contains financial covenants, including requirements to maintain (i) a minimum liquidity of $10,000 or $1,000 per vessel, whichever is greater (ii) the market value adjusted equity ratio shall not be less than 25%, as defined therein and (iii) an actual pledged amount of $650 for this vessel that will increase to $1,000 when cash pledged due to waiver dated December 24, 2009 shall be released (iv) an aggregate market value of the vessel mortgaged as security under this loan agreement not less than 135% of the then outstanding borrowings at all times.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and 2013, the Company had outstanding borrowings of $17,064 and $15,544 respectively, under this loan agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Restructuring Agreement - Commerzbank $120,000 and $26,000 facilities:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 1, 2013, the Company entered into a loan supplemental agreement with Commerzbank for both loan agreements of $120,000 and $26,000 (see a and b), (the Company was committed to this agreement as of December 17, 2012). The amended terms of the supplemental agreement described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;To defer 60% and 50% of the installments for the year ended December 31, 2013 and for the year ending December 31, 2014, respectively, (the &amp;#147;Deferred Amounts&amp;#148;). The Deferred Amounts will be added to the balloon payments, payable upon the expiration of the loan agreements in the fourth quarter of 2016 or in accordance with a cash sweep mechanism (see discussion below);&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The on-charter covenant for the vessel Star Aurora on the $26,000 loan agreement is waived until July 31, 2015;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Minimum asset cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount, is reduced from 135%, to 80%, from September 30, 2012 up to the year ended December 31, 2013, to 85% for the six month period ending June 30, 2014, to 90% for the six month period ending December 31, 2014 and to 110% for the six month period ending June 30, 2015. Thereafter and until the repayment of the loan the asset cover ratio will be set to its initial level of 135%;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Minimum liquidity requirement is reduced to $500 for each of the Company's vessels from $1,000, until December 31, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The actual pledged amount on the $26,000 loan agreement, is reduced to $750 from $1,000;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Margin is increased to 3.00% p.a., for both facilities for as long as deferred amounts are outstanding and/or until original terms are complied with;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The Company paid a flat fee of 0.40% of the combined outstanding loan amount of the two facilities to the lender;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The market value adjusted equity ratio is reduced to 15% from 25%, from September 30, 2012 up to the year ending December 31, 2014; &amp;#8195;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Additional financial covenant requirement is added, ratio of EBITDA (as is defined in the definitive documentation) to interest of not less than 1.5:1.0 for the year ended December 31, 2013 and for the year ending December 31, 2014.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;These amendments will apply, subject to several conditions, as described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;A semi-annual cash sweep mechanism to be implemented on all mortgaged vessels on an individual vessel basis. Under this mechanism all earnings of these vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be used as repayment of the Deferred Amounts;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Star Bulk Carriers Corp. shall not pay any dividends following the agreement with the bank as long as Deferred Amounts are outstanding and/or until original terms are complied with;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;A prepayment of $2,000, which was paid on December 31, 2012, and was applied pro rata against the balloon payments of the two facilities;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;An equity increase of $30,000 until and including December 31, 2013, the respective condition was met after the completion of Company's rights offering in July 2013, which resulted in gross proceeds of $80,065 and its underwritten public offering in October, 2013, which resulted in gross proceeds of $70,840, (Note 10);&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Increase the Company's vessel management services to cover at least 10 third-party vessels by December 31, 2013; the respective condition was met as of December 31, 2013 (Note 3).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;c) Credit Agricole Corporate and Investment Bank $70,000 facility&lt;/b&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On January 20, 2011, the Company entered into a loan agreement with Credit Agricole Corporate and Investment Bank for a term loan up to $70,000 to partially finance the construction cost of the Company's two Newbuildings Star Borealis and Star Polaris, which were delivered in 2011. The shipbuilding contracts and refund guarantees were assigned to the lender as security for this loan agreement and the vessels, upon their delivery, were mortgaged as security for this loan agreement. The total amount that was drawn down totaled to $67,275. Under the terms of this term loan facility, the repayment is over a seven year period and commenced three months after the delivery of each vessel. The loan is repayable in twenty eight consecutive quarterly installments, per vessel, amounting to $485.4 and $499.7, respectively and a final balloon payment which is payable together with the last installment of $19,558.2 and $20,134 for Star Borealis and Star Polaris, respectively. The loan bears interest at LIBOR plus a margin of 2.7% p.a.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;This loan agreement with Credit Agricole Corporate and Investment Bank contains financial covenants, including requirements to maintain (i) a minimum liquidity of $10,000 or $500 per fleet vessel, whichever is greater (ii) the total indebtedness of the borrower over the market value of all vessels owned shall not be greater than 0.7:1, effective from October 15, 2011, (iii) an actual pledged amount of $500 per mortgaged vessel and (iv) the minimum asset cover ratio shall not be less than (a) 120% during the first two years from delivery of each vessel and (b) 125% of the then outstanding borrowings thereafter, unless a mortgaged vessel is subject to an approved charter with an unexpired duration at least 18 months, in which case the relevant percentage shall be 120% for the duration such approved charter.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On May 20, 2013, the Company signed a waiver letter with Credit Agricole Corporate and Investment Bank (the Company was committed to this agreement as of December 14, 2012) and the amended terms described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The ratio of the total indebtedness of the borrower less liquid funds over the market value of all vessels owned is increased to 0.95:1.0 from 0.7:1.0 until March 31, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Minimum asset cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount is amended to 105% from 120% until the March 31, 2014. Thereafter and until the repayment of the loan the asset cover ratio will return to its initial level;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Minimum liquidity is decreased to $7,000 or $500 per fleet vessel, whichever is higher, from $10,000;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Star Bulk Carriers Corp. shall not pay any dividends until March 31, 2014 and as long as the financial covenants included in the original agreement dated January 20, 2011 are not met. During this period, all surplus earnings of the financed vessels under the specific loan agreement, after operating expenses and debt service will be held in lender's account and not to be distributed to the Company.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and December 31, 2013, the Company had outstanding borrowings of $62,849 and $58,909 respectively, under this loan agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 43.6px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;d) ABN AMRO Bank N.V. $31,000 facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 21, 2011, the Company entered into a senior secured credit facility with ABN AMRO Bank N.V. for $31,000, which was drawn down in full to partially finance the acquisition of Star Big and Star Mega, which were mortgaged to provide the security for this senior secured credit facility. Under this senior secured credit facility, the wholly-owned subsidiaries that own these two vessels are the borrowers and the Company is the corporate guarantor. This senior secured credit facility is repayable in 18 consecutive quarterly installments which commenced three months after the initial borrowings, in October 2011. The first 14 installments amount to $1,400 each, the remaining four installments amount to $625 each and a final balloon payment of $8,900 is payable together with the last installment. This senior secured credit facility bears interest at LIBOR plus a margin of 2.9%.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;This senior secured credit facility contains financial covenants and other customary covenants, including requirements to maintain: (i) the leverage ratio shall not be greater than 70%, (ii) a ratio of EBITDA &amp;#160;to interest expense, no less than 3.0:1.0, (iii) minimum liquidity of $10,000 or $750 for each of the Company's vessels, whichever is greater, (iv) a minimum market adjusted net worth of not less than $100,000 and (v) a maintenance reserve account up to $1,500 which can only be used for the payment of the dry-docking of vessel Star Mega. The total amount included in the maintenance reserve account was released in September 2012 in order to cover part of the respective vessel's dry-docking cost. This senior secured credit facility also requires the borrowers to maintain an aggregate charter-free fair market value of the Star Big and the Star Mega of at least 135% of the amount outstanding under the facility until three months prior to the expiration of the time charter of the Star Mega and 150% thereafter. In addition, the facility requires the Company's Chairman, including members of his immediate family, to maintain minimum levels of beneficial ownership of the Company's outstanding common shares.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On March 16, 2012, the Company entered into a first supplemental agreement with ABN AMRO Bank N.V. (the Company was committed to this agreement as of January 26, 2012). Under the terms of this agreement for the period from January 26, 2012 until January 31, 2013 the &amp;#147;Waiver Period&amp;#148;, the minimum security cover ratio was reduced to 100%, the leverage ratio increased to 75% and the margin increased to 3.4% p.a. from 2.9% p.a.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On April 2, 2013, the Company entered into a second supplemental agreement with ABN Amro Bank N.V. (the Company was committed to this agreement as of January 29, 2013). Under the terms of this agreement for the period from October 1, 2012 until December 31, 2014 the &amp;#147;New Waiver Period&amp;#148;, it is agreed to amended terms as described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The minimum market adjusted net worth of the group to be decreased to $30,000 from $100,000; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The minimum liquidity of $750 per fleet vessel to be reduced to $500 per fleet vessel; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Ratio of EBITDA to interest expense to be decreased to 1.5:1.0 from 3.0:1.0; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Total leverage ratio of the corporate guarantor to be increased to 110% from 75%;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Minimum security cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount, will be amended to 75% from 100%. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;These amendments will apply, subject to several conditions, as described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Margin increase of 50bp if the Company fails to raise equity in an amount of $30,000 until March 31, 2013; The Company paid the increased margin of 50bp for the period from March 31, 2013 until July 26, 2013,upon the completion of the Company's rights offering which resulted in &amp;#160;net proceeds of $77,898 after deducting offering expenses of $2,167 (Note 10); &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Star Bulk Carriers Corp. shall not pay any dividends during the New Waiver Period.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and, 2013, the Company had outstanding borrowings of $24,000 and $18,400 respectively, under this loan agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 43.6px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;e) HSH Nordbank AG $64,500 facility:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On October 3, 2011 the Company entered into a new $64,500 secured term loan agreement with HSH Nordbank AG. Under this facility, Company's wholly-owned subsidiaries that own Star Cosmo, Star Kappa, Star Sigma, Star Omicron and Star Ypsilon are the borrowers and Star Bulk Carriers Corp. is the corporate guarantor. The borrowing under this new loan agreement together with $5,326 in cash used to repay in full the Company's indebtedness under its old loan agreements with Piraeus Bank S.A.; a term loan of $150,000 dated April 14, 2008 and of a term loan of $35,000 dated July 1, 2008, in 2011. The senior secured term loan facility consisted of two tranches. The first tranche amounted to $48,500 the (&amp;#147;Supramax Tranche&amp;#148;) and is repayable in 20 quarterly consecutive installments of $1,250 each, which commenced in January 2012, and a final balloon payment of $23,500. The second tranche amounted to $16,000 the (&amp;#147;Capesize Tranche&amp;#148;) and is repayable in 12 consecutive installments of $1,333 each, which commenced in January 2012. The Supramax Tranche bears interest at LIBOR or cost of funds, whichever is greater plus a margin of 2.75% and the Capesize Tranche bears interest at LIBOR or cost of funds whichever is greater, plus a margin of 3.00%.&amp;#8195;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;This loan agreement contains financial covenants including requirements to maintain (i) the ratio of indebtedness of the borrower over the aggregate fair market value of the assets shall not be greater than 75% until December 31, 2013 and 70% thereafter; (ii) a minimum market adjusted net worth of not less than $100,000; (iii) a minimum interest coverage ratio of not less than 2.0:1.0; (iv) an actual pledged amount of $2,000 or $400 for each mortgaged vessel under this credit facility, whichever is greater; (v) a minimum liquidity of $10,000; (vi) an actual pledged amount of $6,504 representing the shortfall between the drawdown amount and the fair value of the collateral vessels on the drawdown date and; (vii) an aggregate market value of the vessels mortgaged as security under this loan agreement should not be less than (a) 125% of the then outstanding borrowings until the repayment of Capesize Tranche and (b) 167% of the then outstanding borrowings thereafter. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Restructuring Agreement:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 17, 2013, the Company agreed to enter into a loan supplemental agreement (the Company was committed to this agreement as of December 21, 2012) and agreed to amended terms with HSH Nordbank AG, as described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;To defer of a minimum of approximately $3,500 during the period from January 1, 2013 until December 31, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;To prepay in total $6,590 of which $3,500 was applied against the balloon payment of Supramax Tranche and $3,090 was applied pro-rata against the eight quarterly repayment installments of the Supramax Tranche starting with the scheduled repayment date in January 2013, using pledged cash already held by the bank. This pledged amount will cease being a requirement for this facility following the prepayment;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The actual pledged amount is reduced to $200 from $400 for each mortgaged vessel under this credit facility. The released amount of $800 was used as a partial prepayment of the Supramax Tranche (50% was applied against the balloon payment of the Supramax Tranche and the remaining 50% was applied pro-rata against the eight quarterly repayment installments of the Supramax Tranche started with the scheduled repayment date in January 2013).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The minimum liquidity of $10,000 is reduced to $7,000 or $500 per fleet vessel until and including December 31, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The ratio of indebtedness of the borrowers over the aggregate fair market value of assets is increased to 90% from 75% until and including December 31, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The minimum market adjusted net worth of the Company is decreased to $30,000 from $100,000 until and including December 31, 2014;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The asset cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount is amended to 100% from September 30, 2012 until and including December 31, 2012 and to 110% from January 1, 2013 until and including December 31, 2013. Thereafter and until the repayment of the loan, the asset cover ratio will return to 125%; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The margin is increased to 3.50% for both Supramax and Capesize Tranches from 3.00% and 2.75% for the Capesize and the Supramax Tranche, respectively, from January 1, 2013 until December 31, 2014 (in the case that an event of default and/or covenant breach, has occurred, the increased margin will apply until the breach is remedied);&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;The waiver of the aggregated market value covenant, which required the vessels mortgaged under this loan agreement to maintain a value of 167% of the outstanding borrowings, upon the repayment of the Capesize Tranche, until and including December 31, 2013.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;These amendments will apply, subject to several conditions, as described below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;A semi-annual cash sweep mechanism will be effective &amp;#160;from June 30, 2013 and will be implemented on all vessels mortgaged under this loan agreement on an individual vessel basis. Under this mechanism all earnings of these vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be used as applied to the balloon payment of the Supramax Tranche. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;In the event of the sale of the vessel Star Sigma during the calendar years 2013 and 2014, proceeds from such sale will be used to fully repay the Capesize Tranche, while the remaining amount will be applied pro-rata against the remaining quarterly repayment installments of the Supramax Tranche until December 31, 2014. In April 2013 the Company fully prepaid the balance of the Capesize Tranche in connection with the sale of the vessel Star Sigma (Note 5) and the balance of the vessel sale proceeds of $4,123 was used to prepay a portion of the Supramax Tranche and the next seven scheduled quarterly installments commenced in April 2013 were reduced pro rata according to the prepayment from $813 to $224; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Star Bulk Carriers Corp. and the ship-owning subsidiaries shall not pay any dividends following the agreement with the bank until December 31, 2014, or later in case of a covenant breach;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;An equity increase of minimum $20,000 within the year ended December 31, 2013 and started to apply from October 1, 2013, the proceeds of which are to be used solely for investment on new vessels' acquisition(s); the respective condition was met after the completion of Company's rights offering in July 2013, which resulted in gross proceeds of $80,065 and its underwritten public offering in October, 2013, which resulted in gross proceeds of $70,840, (Note 10);&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#149;Payment of a one-time processing fee of $12.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and, 2013, the Company had outstanding borrowings of $48,815 and $30,496 respectively, under this loan agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 43.6px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;f) HSH Nordbank AG $35,000 facility&lt;/b&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On December 24, 2013, the Company signed a firm offer letter for a new 35,000 secured term loan agreement with HSH Nordbank AG. The borrowing under this new loan facility will be used to partially finance the acquisition of the vessels Star Challenger and Star Fighter (Note 5), which also provide the security for this loan agreement. Under this senior secured credit facility, the wholly-owned subsidiaries that own these two vessels are the borrowers and the Company is the corporate guarantor. This senior secured credit facility is repayable in 28 consecutive quarterly installments which commencing three months after the date of the drawdown, per vessel, amounting to $312.5 and $291.7, respectively and a final balloon payment which is payable together with the last installments of $8,750 and $9,332.4, for Star Challenger and Star Fighter, respectively. This senior secured credit facility bears interest at LIBOR plus a margin of 3.25%.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;This senior secured credit facility contains financial covenants and other customary covenants, including requirements to maintain: (i) the market value adjusted leverage ratio shall not be greater than 75%, (ii) a ratio of EBITDA to interest expense, no less than 2.0:1.0, (iii) minimum liquidity of $500 for each of the Company's vessels, (iv) a minimum market adjusted net worth of not less than $100,000 ,(v) an actual pledged amount of $300 per mortgaged vessel the &amp;#147; Mandatory Minimum Amount&amp;#148;, (vi) an additional actual pledged amount of $600 per vessel the &amp;#147;Additional Liquidity Amount&amp;#148;, in case of no time charter employment in place (as defined in the loan agreement) on the drawdown date; the respective amount will be gradually released by $150 per annum per vessel on each anniversary of the drawdown date of the relevant vessel and (vii) the borrowers will not pay any dividends or make similar distributions if breach of covenant and/or event of default or will occur after such dividend or distribution. This senior secured credit facility also requires the borrowers to maintain an aggregate charter-free fair market value of the Star Challenger and the Star Fighter of at least 125% of the amount outstanding including the Mandatory Minimum Amount and excluding the Additional Liquidity Amount.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 18.9px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;As of December 31, 2013, no amount has been drawn down from the $35,000 new loan facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2013 the Company was in compliance with the restructured loan covenants. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The weighted average interest rate related to the Company's existing debt (including the margin) as of December 31, 2011, 2012 and 2013 was 3.25%, 2.92% and 3.34% respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after December 31, 2013 for all outstanding debt are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 46.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;$ 18,286&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;28,215&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;96,745&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;3,941&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:14px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;43,147&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;December 31, 2019 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:315px;height:15px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:134px;"&gt;&lt;div style="text-align:right;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$190,334&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Interest expense for the years ended December 31, 2011, 2012 and 2013 amounting to $4,698, $7,167 and $6,153, respectively, amortization of deferred finance fees amounting to $329, $502 and $522, respectively, and other finance fees amounting to $200, $169 and $139, respectively, are included under "Interest and finance costs" in the accompanying consolidated statements of operations. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The unamortized balance of the deferred financing fees relating to Piraeus Bank S.A. loan facilities which were fully repaid in 2011, amounting to $307, were written off and included under "Loss on debt extinguishment" in the accompanying consolidated statement of operations for the year ended December 31, 2011.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;All vessels are first-priority mortgaged as collateral to the Company's loan facilities.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
  <sblk:GainOnTimeCharterAgreementTerminationTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;8.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Gain on time charter agreement termination:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;For the year ended December 31, 2011&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The vessel Star Cosmo, was on time charter at a gross daily charter rate of $35.615 per day for the period from February 10, 2009 until May 1, 2011, and was redelivered earlier to the Company on February 17, 2011. The Company has recognized a gain on time charter agreement termination amounting to $273, which related to the write-off of the unamortized fair value of below market acquired time charter on vessel redelivery date. In addition, the Company recognized a gain amounting to $324 which represented the deferred revenue from the terminated time charter contract.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The vessel Star Omicron was on time charter at a gross daily charter rate of $43.0 per day for the period from April 22, 2008 until February 22, 2011 and was redelivered earlier to the Company on January 17, 2011. The Company recognized a gain amounting to $1,210 which represented the cash consideration received from its charterers relating to the early termination of this charter party.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The vessel Star Sigma, was on time charter at a gross daily charter rate of $38.0 per day for the period from March 1, 2009 until October 29, 2013, and was redelivered earlier to the Company on December 31, 2011. The Company has recognized a gain amounting to $203 which represented the deferred revenue from the terminated time charter contract.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;For the year ended December 31, 2012&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The vessel Star Sigma, was time chartered to Pacific Bulk Shipping Ltd. at a gross daily charter rate of $38.0 per day for the period from March 1, 2009 until October 29, 2013, and was redelivered earlier to the Company on December 31, 2011. On January 4, 2012, the Company signed an agreement with the charterer in order to receive an amount of $5,734 in cash, as compensation for the early redelivery of the respective vessel. The total amount was received in January 2012. In addition to the cash payment, Pacific Bulk supplied the Company with 1,027 metric tons of fuel, valued at $720. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;All amounts presented above are included under "Gain on time charter agreement termination" in the accompanying consolidated statements of operations for years ended December 31, 2011 and 2012.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;</sblk:GainOnTimeCharterAgreementTerminationTextBlock>
  <sblk:FairValueAboveBelowMarketAcquiredTimeChartersTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Fair value of Above/Below Market Acquired Time Charters :&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The fair value of the time charters acquired at below/above fair market charter rates on the acquisition of the vessels is summarized below. These amounts are amortized on a straight-line basis to the end of each charter period.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:9px;height:43px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessel&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair value of acquired &amp;#160;time charter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2010&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amortization 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amortization 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amortization 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Balance December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:9px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:291px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair Value of below market acquired time charter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Star Cosmo&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$ &amp;#160;3,856&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;452&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;452&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;3,856&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;452&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;452&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:291px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Fair value of above market acquired time charter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Star Big&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13,733&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,180&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12,553&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,224&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;9,329&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,216&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;6,113&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Star Mega&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;9,332&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,186&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;8,146&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,145&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;5,001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;3,136&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,865&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:9px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:77px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;23,065&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:99px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2,366&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;20,699&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:98px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;6,369&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:78px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;14,330&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:103px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;6,352&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;7,978&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:12.0px;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;During 2011, the Company acquired two second-hand Capesize vessels Star Big and Star Mega (Note 5), with existing time charter contracts. Upon their delivery the Company evaluated the attached charter contracts by comparing the charter rates in the acquired time charter agreements with the market rates for equivalent time charter agreements prevailing at the time the foregoing vessels were delivered and recognized an asset of $23,065, of which $13,733 related to &amp;#160;Star Big and $9,332 related to Star Mega. This amount is amortized on a straight-line basis to revenues through the end of the charter period. For the years ended December 31, 2011, 2012 and 2013 the amortization of fair value of above- market acquired time charters amounted to $2,366, $6,369 and $6,352, respectively, and is included under "Voyage revenues" in the accompanying consolidated statements of operations. For the years ended December 31, 2011, 2012 and 2013 the amortization of fair value of below-market acquired time charters amounted to $452, $0 and $0, respectively, and is included under "Voyage revenues" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;line-height:1.15;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The estimated aggregate amortization expense of the above market acquired time charters until the end of their useful lives is analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Amount&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;December 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;5,080&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;December 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;2,898&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:167px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:14.7px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:65px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;7,978&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The carrying amount of the above market acquired time charters amounting to $7,978 as of December 31, 2013 will be amortized over a weighted-average period of 1.6 years.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:FairValueAboveBelowMarketAcquiredTimeChartersTextBlock>
  <sblk:AdvancesForVesselsAcquisitionsTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;6.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Advances for Vessels Acquisitions:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 5, 2013, the Company through its two wholly-owned subsidiaries, Star Cape I LLC and Star Cape II LLC, contracted with Shanghai Waigaoqiao Shipbuilding Co. Ltd., or SWS, shipyard to build two 180,000 dwt eco-type, fuel efficient Capesize drybulk vessels, Hull 1338 and Hull 1339. These vessels are scheduled to be delivered in October 2015 and in January 2016, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On September 23, 2013, the Company through its two wholly-owned subsidiaries, Star Castle I LLC and Star Castle II LLC, contracted with SWS, to build two 208,000 dwt eco-type, fuel efficient Newcastlemax drybulk vessels, Hull 1342 and Hull 1343. These vessels are scheduled to be delivered in January and in April 2016, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On September 27, 2013, the Company through its three wholly-owned subsidiaries, Star Axe I LLC, Star Axe II LLC and Star Axe III LLC, contracted with Nantong COSCO KHI Ship Engineering Co., or NACKS, shipyard to build two 61,000 dwt eco-type, fuel efficient Ultramax drybulk vessels, Hull NE 196 and Hull NE 197, with expected deliveries in October 2015 and November 2015, respectively and one 209,000 dwt eco-type, fuel efficient Newcastlemax drybulk vessel, Hull NE 198, with expected delivery in March 2016. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On October 22, 2013, the Company through its two wholly-owned subsidiaries, Star Asia I LLC and Star Asia II LLC, contracted with Japan Marine United Corporation, or JMU, to build two 60,000 dwt eco-type, fuel efficient Ultramax drybulk vessels, Hull 5040 and Hull 5043 for a construction price of $57,500 in aggregate, with expected deliveries in June 2015 and September 2015, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The total net aggregate price for all nine newbuilding vessels is $367,400 payable in installments until their deliveries. During the year ended December 31, 2013, the Company paid advances to the shipyards amounting to $66,780.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The amounts of $0 and $67,932 are included in &amp;#147;Advances for vessel acquisitions&amp;#148; in the accompanying consolidated balance sheets as of December 31, 2012 and 2013, respectively, and represent amounts paid to shipyards and other capitalized costs, as analyzed below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:28px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pre-delivery Yard installments &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;$ &amp;#160;66,780&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:27px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Capitalized interest and finance costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;633&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Other capitalized costs (Note 3) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;519.0&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:219px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Total&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:102px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$ &amp;#160;67,932&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;.&lt;/font&gt;&lt;/div&gt;</sblk:AdvancesForVesselsAcquisitionsTextBlock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;5.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels and Other Fixed Assets, Net:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The amounts in the accompanying consolidated balance sheets are analyzed as follows:&lt;b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;772,981&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;481,086&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Other fixed assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;679&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,083&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Impairment charge&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(303,219&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total cost&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;470,441&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;482,169&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Accumulated depreciation&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;(179,234&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(155,495)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:281px;height:20px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Vessels and other fixed assets, net&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;291,207&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;326,674&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&lt;u&gt;Vessels acquired / disposed during the year ended December 31, 2011&lt;/u&gt;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On May 12, 2011, the Company entered into an agreement with Donatus Marine Inc., or Donatus Marine, a Marshall Islands company minority owned by family members of the Company's Chairman, Mr. Petros Pappas to acquire a 1996-built Capesize vessel, Star Big, ex- Big Fish along with its long-term time charter, for an aggregate purchase price of $27,800. Star Big is under a long-term time charter with a multinational mining company at a rate of $25.0 per day until November 2015. The vessel was delivered to the Company on July 25, 2011 and on the same day the vessel underwent its scheduled dry docking. The Company capitalized the related dry docking expense, which amounted to $1,780 plus an amount of $41, as other capitalized expenses, related to the acquisition of the vessel.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;On the same date, the Company also entered into an agreement with Barrington Corporation, a Marshall Islands company minority owned by family members of the Company's Chairman, Mr. Petros Pappas, to acquire a 1994-built Capesize vessel, Star Mega, ex-Megalodon along with its long-term time charter, for an aggregate purchase price of $23,700. Star Mega is under a long-term time charter with a multinational mining company at a rate of $24.5 per day until August 2014. The vessel was delivered to the Company on August 16, 2011. The Company capitalized an amount of $160 as other capitalized expenses, related to the acquisition of the vessel.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On March 24 and April 6, 2010, the Company signed two contracts with the shipbuilder Hanjin to build two Capesize vessels at a price of $106,880 in aggregate. On September 9, 2011 and November 14, 2011 the Company took delivery from the shipyard of the vessels Star Borealis and Star Polaris, respectively. For the year ended December 31, 2011, capitalized interest in connection to the respective vessels amounted to $1,901. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;No vessel disposals took place during the year ended December, 31, 2011.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels acquired / disposed during the year ended December 31, 2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 22, 2012, the Company entered into an agreement with a third party in order to sell the vessel Star Ypsilon together with a quantity of 667 metric tons of fuel oil, for a contracted price of $9,126 less address commission of 3% and brokerage commission of 2%. The vessel was delivered to its purchasers on March 9, 2012. The net carrying amount of Star Ypsilon as of the date of its delivery was $11,152 and the resulting loss of $3,190 is included under &amp;#147;Loss on sale of vessel&amp;#148; in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;No vessel acquisitions took place during the year ended December, 31, 2012.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels acquired / disposed during the year ended December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On March 14, 2013, the Company entered into an agreement with a third party to sell the Star Sigma for a contracted price of $9,044 less address commission of 3% and brokerage commission of 1%. The vessel was delivered to its buyers on April 10, 2013. The net carrying amount of Star Sigma as of the date of its delivery was $8,354 and the resulting loss of $87 is included under "Loss on sale of vessel" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On November 5, 2013, the Company entered into two agreements to acquire from two unaffiliated third parties, one 61,462 dwt Ultramax vessel, Star Challenger, built 2012 and one 61,455 dwt Ultramax vessel, Star Fighter, built 2013, for approximately $28,760 each vessel. The vessels were delivered to the Company on December 12, 2013 and on December 30, 2013 respectively. The Company capitalized an amount of $299 for Star Challenger and $293 for Star Fighter, as other capitalized expenses, including 1% brokerage commission for each vessel, related to the acquisition of the respective vessels.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2011 and September 30, 2012, the Company reviewed the carrying amount in connection with the estimated recoverable amount for each of its vessels. The review as of December 31, 2011, indicated that such carrying amount was not recoverable for two of the Company's vessels; the Star Ypsilon and the Star Sigma and as of September 30, 2012, indicated that such carrying amount was not recoverable for the Company's eight Supramax vessels and one of the Company's oldest Capesize vessels, Star Sigma, which was sold in April 2013 as disclosed above. As of December 31, 2012 and 2013 no indications existed, that the Company should perform any further impairment tests. The Company recognized an impairment loss of $62,020 and $303,219 for the years ended December 31, 2011 and 2012, respectively, which is included under "Vessel impairment loss" in the consolidated statements of operations (Note 19).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:InventoryDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;4.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Inventories:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:&amp;#8195;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Lubricants&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,985&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,726&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;Bunkers&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;1,628&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:118px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;3,613&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:111px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;1,726&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;.&lt;/font&gt;&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="fyp0d">&lt;div style="margin-top:3.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;3. Transactions with Related Parties:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Transactions and balances with related parties are analyzed as follows&lt;/font&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Balance Sheet&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (h)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;147&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Combine Marine Ltd (d)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A. (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Product Shipping &amp;amp; Trading S.A (n)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;56&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Maiden Voyage LLC (f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;211&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC (k)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;129&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;Pacific Cape Shipping LLC (l)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;48&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC (m)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;32&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;147&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;486&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Interchart Shipping Inc. (a)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;100&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;58&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management and Directors Fees (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;121&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;111&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Maiden Voyage LLC (f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;41&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (h)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;102&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC (i)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;83&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC LLC (g)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;64&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC (j) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;141&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;262&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;559&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Capitalized Expenses&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:28px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Advances for vessels under construction and acquisition of vessels and other assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:28px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Oceanbulk Maritime S.A.- commision fee for newbuilding vessels (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;519&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Statements of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="23" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:308px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:312px;height:15px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:83px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:76px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Commission on sale of vessel-Oceanbulk (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;91&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;90&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Voyage expenses-Interchart (a)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1,134&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;773&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Executive directors consultancy fees (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;3,505&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;453&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;528&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Non-executive directors compensation (b)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;151&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;124&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;114&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Office rent -&amp;#160;Combine Marine Inc (c)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;48&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Office rent - Combine Marine Ltd. (d)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;40&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;41&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Office setup expenses - Oceanbulk (e)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;148&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Maiden Voyage LLC (f)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(128) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(163) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:342px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - OOCAPE1 Holdings LLC (h)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="4" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:74px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:23px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(76 ) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(274) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Premier Voyage LLC LLC (g)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(111) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Sea Cape Shipping LLC (i)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:71px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:64px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(93) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Glory Supra Shipping LLC (k)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(74) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Sky Cape Shipping LLC (j)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(56) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income - Pacific Cape Shipping LLC (l)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(52) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:333px;height:14px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Management fee income Product Shipping &amp;amp; Trading S.A (n)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="4" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:20px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:19px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:22px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:62px;background-color:#ffffff"&gt;&lt;div style="text-align:right;margin-top:3.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;(242) &amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:312px;"&gt;&lt;/td&gt;
    &lt;td style="width:20px;"&gt;&lt;/td&gt;
    &lt;td style="width:9px;"&gt;&lt;/td&gt;
    &lt;td style="width:8px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:1px;"&gt;&lt;/td&gt;
    &lt;td style="width:5px;"&gt;&lt;/td&gt;
    &lt;td style="width:11px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:6px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:18px;"&gt;&lt;/td&gt;
    &lt;td style="width:3px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:19px;"&gt;&lt;/td&gt;
    &lt;td style="width:2px;"&gt;&lt;/td&gt;
    &lt;td style="width:59px;"&gt;&lt;/td&gt;
    &lt;td style="width:9px;"&gt;&lt;/td&gt;
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&lt;div&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;(a)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Interchart Shipping Inc. or Interchart&lt;/b&gt;: Interchart, a company that was affiliated to Oceanbulk Maritime S.A. (see (e) below), acts as a chartering broker of all the Company's vessels. As of December 31, 2012 and 2013, the Company had an outstanding liability of $100 and $58, respectively, to Interchart. During the years ended December 31, 2011, 2012 and 2013, the brokerage commission on charter revenue charged by Interchart amounted $1,237, $1,134 and $773, respectively and is included in "Voyage expenses" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(b)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Management and Directors Fees:&lt;/b&gt; On October 3, 2007, Star Bulk entered into separate consulting agreements with companies owned and controlled by the Company's former Chief Executive Officer and former Chief Financial Officer, for the services provided by the former Chief Executive Officer and the former Chief Financial Officer, respectively. Each of these agreements had a term of three years unless terminated earlier in accordance with the terms of such agreements. During 2010 these agreements were automatically renewed for the successive year. Under the consulting agreements, each company controlled by the former Chief Executive Officer and the former Chief Financial Officer received an annual consulting fee of &amp;#128;370,000 (approx. $511, using the exchange rate as of December 31, 2013, eur/usd 1.38) and &amp;#128;250,000 (approx. $345, using the exchange rate as of December 31, 2013, eur/usd 1.38) respectively. For the year ended December 31, 2011, the consulting fees amounted to $337 representing the respective expense, up to the date of the termination of the consulting agreements as disclosed below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On February 7, 2011, Mr. Spyros Capralos was appointed as the Company's President and Chief Executive Officer, to succeed Mr. Akis Tsirigakis, who resigned from those positions on that date and resigned from the Company's board of directors on March 31, 2012. Pursuant to the terms of his employment and consultancy agreements, the former Chief Executive Officer was awarded a severance payment that amounted to $2,347.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Effective February 7, 2011, the Company entered into a consulting agreement with a company owned and controlled by the Company's current Chief Executive Officer. This agreement had a term of three years unless terminated earlier in accordance with its terms. Under this agreement the Company paid the current Chief Executive Officer a base fee at an annual rate of not less &amp;#128;160,000 (approx. $221, using the exchange rate as of December 31, 2013, eur/usd 1.38), additionally, the Chief Executive Officer was entitled to receive an annual discretionary bonus, as determined by the Company's board of directors in its sole discretion and a minimum guaranteed incentive award of 28,000 shares of stock. These shares vest in three equal installments, the first installment of 9,333 shares vested on February 7, 2012, the second installment of 9,333 shares vested on February 7, 2013, and the last installment of 9,334 shares vests on February 7, 2014. On April 20, 2012, the Company issued the first installment of 9,333 shares and on September 11, 2013, the Company issued the remaining two installments of 9,333 and 9,334 shares to the Company's Chief Executive Officer. During the years ended December 31, 2011, 2012 and 2013 the consultancy fees under the specific consulting agreement with the Company's Chief Executive Officer amounted to $225, $230 and $79, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On May 2, 2011, the Company entered into a consulting agreement with a company owned and controlled by Mr. Simos Spyrou, the Company's current Chief Financial Officer. This agreement had a term of three years unless terminated earlier in accordance with its terms. Under this agreement the Company paid the current Chief Financial Officer a base fee at an annual rate of not less &amp;#128;56,000 (approx. $77, using the exchange rate as of December 31, 2013, eur/usd 1.38). During the years ended December 31, 2011, 2012 and 2013 the consultancy fees under the specific consulting agreement with the Chief Financial Officer amounted to $52, $72 and $25, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Additionally, the current Chief Financial Officer is entitled to receive an annual discretionary bonus, as determined by the Company's board of directors in its sole discretion.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On May 12, 2011, the Company entered into a release agreement with a company owned by the former Chief Financial Officer. Pursuant to the terms of this agreement, Mr. Syllantavos resigned as the Company's Chief Financial Officer and from the Company's board of directors on August 31, 2011 and received a severance payment amounting to $463.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Additionally, pursuant to the agreement, the Company issued an aggregate of 21,867 common shares to the former Chief Financial Officer. The respective stock based compensation was fully amortized at the date of his resignation on August 31, 2011. The fair value of each share was $34.5 which was equal to the market value of the Company's common stock on the grant date.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On May 3, 2013, the Company entered into separate renewal consulting agreements with companies owned and controlled by the Company's Chief Executive Officer and Chief Financial Officer. Under these agreements, each company controlled by the Company's Chief Executive Officer and Chief Financial Officer receives an annual consulting fee of not less than &amp;#128;174,600 (approx. $241, using the exchange rate as of December 31, 2013, eur/usd 1.38) and &amp;#128;102,000 (approx. $141, using the exchange rate as of December 31, 2013, eur/usd 1.38), respectively. The respective agreements have a term of three years and will be renewed for a successive year unless terminated earlier in accordance with their terms. In addition, under his renewed consulting agreement Company's Chief Executive Officer is entitled to receive a minimum guaranteed incentive award of 28,000 shares of stock. These shares vest in three equal installments, the first installment of 9,333 shares vests on May 3, 2014, the second installment of 9,333 shares vests on May 3, 2015 and the last installment of 9,334 shares vests on May 3, 2016. During the year ended December 31, 2013, the consultancy fees under the renewal consulting agreements with the Company's Chief Executive Officer and Chief Financial Officer amounted to $172 and $91, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On July 1, 2011, the Company entered into a consulting agreement with a company owned and controlled by the Company's Chief Operating Officer. This agreement has an indefinite term and each party may terminate the agreement giving one month's notice. Under this agreement the Company pays the Chief Operating Officer a base fee at an annual rate of not less &amp;#128;117,519 (approx. $162, using the exchange rate as of December 31, 2013, eur/usd 1.38). During the years ended December 31, 2011, 2012 and 2013 the consultancy fees under the specific consulting agreement with the Chief Operating Officer amounted to $81, $151 and $161, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The related expenses for the Company's executive officers for the years ended December 31, 2011, 2012 and 2013 were $3,505, $453 and $528, respectively and are included under "General and administrative expenses" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;As of December 31, 2012 and 2013, Star Bulk had an outstanding payable balance of $121 and $111, respectively with its Management and Directors, representing unpaid fees for their participation in the Board of Directors of the Company and the other special committees of the board of directors. The related expenses for the years ended December 31, 2011, 2012 and 2013 were $151, $124 and $114, respectively and are included under "General and administrative expenses" in the accompanying consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(c)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Combine Marine Inc. or ("Combine"):&lt;/b&gt; On July 4, 2011, Starbulk S.A., entered into a 12-year lease agreement for office space with Combine, a company that was controlled by one of the Company's directors, Mrs. Milena-Maria Pappas and by Mr. Alexandros Pappas, children of the Company's Chairman Mr. Petros Pappas. The lease agreement provided for a monthly rent payment of &amp;#128;5,000 (approx. $6.9, using the exchange rate as of December 31, 2013, eur/usd 1.38). On January 1, 2012 this agreement was mutually terminated without the Company paying any compensation. The related expense for the rent for the year ended December 31, 2011, was $48 and is included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2012 and 2013, the Company had no outstanding payable or receivable balance with Combine.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(d)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Combine Marine Ltd., or (Combine Ltd.):&lt;/b&gt; On January 1, 2012 Starbulk S.A, entered into a one year lease agreement for office space with Combine Ltd., a company controlled by one of the Company's directors, Mrs. Milena-Maria Pappas and by Mr. Alexandros Pappas, children of the Company's Chairman Mr. Petros Pappas. The lease agreement provides for a monthly rental of &amp;#128;2,500 (approximately $3.5, using the exchange rate as of December 31, 2013, eur/usd 1.38).On January 1, 2013, the agreement was renewed and unless terminated by either party, it will expire in eleven years. &amp;#160;The related expenses for the rent for the years ended December 31, 2012 and 2013, were $40 and $41, respectively and are included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2012 and 2013, the Company had an outstanding receivable balance of $0 and $1, respectively, with Combine Ltd.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(e)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Oceanbulk Maritime S.A., or Oceanbulk:&lt;/b&gt; Oceanbulk Maritime S.A. is a ship management company and is controlled by one of the Company's directors Mrs. Milena-Maria Pappas. For the year ended December 31, 2011, the Company incurred an expense of $148, to set up new offices that Oceanbulk Maritime S.A. paid on behalf of the Company. The respective expense is included under "General and administrative expenses" in the accompanying consolidated statements of operations. During the years ended December 31, 2012 and 2013, the Company paid to Oceanbulk a brokerage commission amounting to $91 regarding the sale of vessel Star Ypsilon and $90 regarding the sale of vessel Star Sigma, respectively (Note 5).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On November 25, 2013, Company's Board of Directors approved to pay Oceanbulk Maritime S.A a commission fee relative to the negotiations with the shipyards on the construction of the Company's contracted newbuilding vessels (Note 6). The agreement is to pay a commission of 0.5% of the shipbuilding contract price for the two newbuilding Capesize vessels and the three newbuilding Newcastlemax vessels and a flat fee of $200 per vessel for the four newbuilding Ultramax vessels. For all the Company's nine newbuilding vessels the total commission will amount to $2,077. The commission has been agreed to be paid in four equal installments, the first two installments will be paid in cash and the remaining two installments will be paid with the issuance of common shares. The first installment of $519 was paid in cash in December 2013; the respective amount was capitalized and is included in the &amp;#147;Advances for vessel under construction and acquisition of vessels and other assets&amp;#148; in the accompanying consolidated balance sheets. The second installment will be paid in April 2014 and the last two installments, to be paid with the issuance of common shares are due in June 2015 and in April 2016, respectively. As of December 31, 2012 and December 31, 2013, the Company had an outstanding receivable balance with Oceanbulk of $0 and $9, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(f)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Maiden Voyage LLC:&lt;/b&gt; Maiden Voyage LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors, Mrs. Milena-Maria Pappas. On September 27, 2012, Starbulk S.A. entered into an agreement with Maiden Voyage LLC, a Marshall Islands company, for the commercial and technical management of the vessel Maiden Voyage, a 2012 built Supramax dry bulk carrier. Pursuant to the terms of this management agreement, Starbulk S.A. received a fixed management fee of $0.75 per day, beginning on September 28, 2012, and until August 6, 2013, when, Maiden Voyage LLC sold its vessel Maiden Voyage to Premier Voyage LLC, a Marshall Islands company and the respective management agreement was terminated. The related income for the years ended December 31, 2012 and 2013 was $128 and $163, respectively and is included under "Management fee income" in the accompanying consolidated statements of operations. As of December 31, 2012 and 2013, the Company had an outstanding receivable balance of $0 and $211, respectively, with Maiden Voyage LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(g)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &lt;b&gt;Premier Voyage LLC:&lt;/b&gt; On August 6, 2013, Maiden Voyage LLC (please refer to f) sold its vessel Maiden Voyage, one of the Company's vessels under management, to Premier Voyage LLC, a Marshall Islands company. On the same date Starbulk S.A. entered into an agreement with Premier Voyage LLC, for the commercial and technical management of the vessel Maiden Voyage with the terms of this agreement being the same with the agreement with Maiden Voyage LLC. Premier Voyage LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors, Mrs. Milena-Maria Pappas. The related income for the year ended December 31, 2013, was $111 and is included under "Management fee income" in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had an outstanding payable balance of $64, with Premier Voyage LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(h)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;OOCAPE1 Holdings LLC&lt;/b&gt;: OOCAPE1 Holdings LLC is owned and controlled by Oceanbulk Carriers LLC, a company minority owned by one of the Company's directors Mrs. Milena-Maria Pappas. On October 18, 2012, Star Bulk S.A. entered into an agreement with OOCAPE1 Holdings LLC, a Marshall Islands company, for the commercial and technical management of the vessel Obelix, a 2011 built Capesize dry bulk carrier. Pursuant to the terms of this management agreement, Star Bulk S.A receives a fixed management fee of $0.75 per day beginning on October 19, 2012 and until the agreement's termination by either party giving to the other notice in writing. In this event the agreement shall terminate upon the expiration of a period of two months from the date of notice was given. This vessel is managed under the same strategy as the other vessels in the Company's fleet. The related income for the years ended December 31, 2012 and 2013, was $76 and $274, respectively, and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2012 and 2013, the Company had an outstanding receivable balance of $147 and an outstanding payable balance of $102, with OOCAPE1 Holdings LLC, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(i)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Sea Cape Shipping LLC&lt;/b&gt;: Sea Cape Shipping LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors Mrs. Milena-Maria Pappas. On August 23, 2013, Starbulk S.A. entered into an agreement with Sea Cape Shipping LLC, a Marshall Islands company, for the commercial and technical management of the vessel Big Bang, a 2007 built Capesize dry bulk carrier. Pursuant to the terms of this management agreement, Starbulk S.A. receives a fixed management fee of $0.75 per day, beginning on August 30, 2013, and until the agreement's termination by either party giving to the other notice in writing. This vessel is managed under the same strategy as the other vessels in the Company's fleet. The related income for the year ended December 31, 2013, was $93 and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had an outstanding payable of $83, with Sea Cape Shipping LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(j)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Sky Cape Shipping LLC:&lt;/b&gt; Sky Cape Shipping LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors Mrs. Milena-Maria Pappas. On September 12, 2013, Starbulk S.A., entered into an agreement with Sky Cape Shipping LLC, a Marshall Islands company, for the commercial and technical management of the vessel Big Fish, a 2004 built Capesize dry bulk carrier. Pursuant to the terms of this management agreement, Starbulk S.A. receives a fixed management fee of $0.75 per day, beginning on October 18, 2013, and until the agreement's termination by either party giving to the other notice in writing. This vessel is managed under the same strategy as the other vessels in the Company's fleet. &amp;#160;The related income for the year ended December 31, 2013, was $56 and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had an outstanding payable of $141, with Sky Cape Shipping LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(k)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Glory Supra Shipping LLC:&lt;/b&gt; Glory Supra Shipping LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors Mrs. Milena-Maria Pappas. On September 12, 2013 Starbulk S.A., entered into an agreement with Glory Supra Shipping LLC, a Marshall Islands company, for the commercial and technical management of the vessel Strange Attractor, a 2006 built Supramax dry bulk carrier. Pursuant to the terms of this management agreement, Star Bulk S.A. receives a fixed management fee of $0.75 per day, beginning on September 24, 2013, and until the agreement's termination by either party giving to the other notice in writing. This vessel is managed under the same strategy as the other vessels in the Company's fleet. The related income for the year ended December 31, 2013, was $74 and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had an outstanding receivable of $129, with Glory Supra Shipping LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(l)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Pacific Cape Shipping LLC&lt;/b&gt;: Pacific Cape Shipping LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors Mrs. Milena-Maria Pappas. On September 27, 2013 Starbulk S.A., entered into an agreement with Pacific Cape Shipping LLC, a Marshall Islands company, for the commercial and technical management of the vessel Pantagruel, a 2004 built Capesize dry bulk carrier. Pursuant to the terms of this management agreement, Star Bulk S.A. receives a fixed management fee of $0.75 per day, beginning on October 24, 2013, and until the agreement's termination by either party giving to the other notice in writing. This vessel is managed under the same strategy as the other vessels in the Company's fleet. The related income for the year ended December 31, 2013, was $52 and is included under &amp;#147;Management fee income&amp;#148; in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had an outstanding receivable of $48, with Pacific Cape Shipping LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(m)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Global Cape Shipping LLC:&lt;/b&gt; Global Cape Shipping LLC is owned and controlled by Oceanbulk Shipping LLC, a company minority owned by one of the Company's directors Mrs. Milena-Maria Pappas. &amp;#160;On December 31, 2013, Starbulk S.A entered into an agreement with Global Cape Shipping LLC, a Marshall Islands company, for the commercial and technical management of the vessel Kymopolia, a 2006 built Capesize dry bulk carrier. Pursuant to the terms of this management agreement, Starbulk S.A will receive a fixed management fee of $0.75 per day beginning on January 30, 2014, and until the agreement's termination by either party giving to the other notice in writing. This vessel will be managed under the same strategy as the other vessels in Company's fleet. The related income for the year ended December 31, 2013, was $0 and as of December 31, 2013, the Company had an outstanding receivable of $32, with Global Cape Shipping LLC.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(n)&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Product Shipping &amp;amp; Trading S.A:&lt;/b&gt; Product Shipping &amp;amp; Trading S.A is controlled by family members of the Company's Chairman, Mr. Petros Pappas. On June 7, 2013, Starbulk S.A. entered into an agreement with Product Shipping &amp;amp; Trading S.A, a Marshall Islands company, under which, the Company provides certain management services including crewing, purchasing and arranging insurance to the vessels which are under the management of Product Shipping &amp;amp; Trading S.A. Pursuant to the terms of this agreement, Starbulk S.A. receives a fixed management fee of $0.13 per day, per vessel. The related income for the year ended December 31, 2013, was $242 and is included under "Management fee income" in the accompanying consolidated statements of operations. As of December 31, 2013, the Company had an outstanding receivable of $56, with Product Shipping &amp;amp; Trading S.A. In October the Company decided to gradually terminate the provision of the above mentioned services to the vessels which are under the management of Product Shipping &amp;amp; Trading S.A.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="fyp0d">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1.&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Basis of Presentation and General Information&lt;/b&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;The accompanying consolidated financial statements as of and for the years ended December 31, 2011, 2012 and 2013 include the accounts of Star Bulk Carriers Corp. (Star Bulk) and its wholly owned subsidiaries (collectively, the &amp;#147;Company&amp;#148;).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;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 &amp;#160;the outstanding shares of Star Bulk Management Inc., Starbulk S.A., Star Bulk Manning LLC and the ship-owning subsidiaries as set forth below. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;On October 15, 2012, the Company effected a 15-for-1 reverse stock split on its issued and outstanding common stock (Note 10). All share and per share amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Since December 3, 2007, Star Bulk shares are trading on the NASDAQ Global Select Market under the ticker symbol SBLK. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Below is the list of the Company's wholly owned subsidiaries as of December 31, 2013:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:133px;height:43px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Date&lt;br/&gt;Delivered to Star Bulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Bulk Management Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Starbulk S.A.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Bulk Manning LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="3" style=" border:solid #000000 0.0px;width:301px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels in operation at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Aurora LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Aurora&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;171,199&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 8, 2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Big LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Big&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;168,404&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;July 25, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1996&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Borealis LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Borealis&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;179,678&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 9, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Mega LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Mega&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;170,631&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;August 16, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Polaris LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Polaris&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;179,600&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;November 14, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Challenger I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Challenger&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 12, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Challenger II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Fighter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Cosmo LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Cosmo&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,247&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;July 1, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Delta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Delta (ex F Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,434&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Epsilon LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Epsilon (ex G Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 3, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Gamma LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Gamma (ex C Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;53,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 4, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2002&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Kappa LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Kappa (ex E Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 14, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Omicron LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Omicron&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;53,489&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;April 17, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2005&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Theta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Theta (ex J Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,425&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 6, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Zeta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Zeta (ex I Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;52,994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;2003&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels disposed*&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Lamda LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Sigma&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;184,403&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;April 15, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1991&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Alpha LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Alpha (ex A Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;175,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 9,2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1992&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Beta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Beta (ex B Duckling)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;174,691&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;December 28, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1993&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:133px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star &amp;#160;Ypsilon LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:210px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Star Ypsilon&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:72px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;150,940&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:138px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 18, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:38px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:50px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;1991&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;*&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;For vessels disposed refer to Note 5.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 72.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="6" style=" border:solid #000000 0.0px;width:332px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;&amp;#160;Newbuildings at December 31, 2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:183px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Expected Delivery Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CASTLE I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1342&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CASTLE II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1343&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;April 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR ENNEA LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull NE 198&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;March 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CAPE I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1338&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;October 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR CAPE II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 1339&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;January 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR ASIA I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 5040&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;June 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR ASIA II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull 5043&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;September 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR AXE I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull NE 196&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;October 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:183px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;STAR AXE II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:113px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Hull NE 197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:106px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:154px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;November 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:183px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:113px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:106px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:58px;"&gt;&lt;/td&gt;
    &lt;td style="width:17px;"&gt;&lt;/td&gt;
    &lt;td style="width:154px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 72.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Below is the list of the vessels which are under commercial and technical management by Starbulk S.A. as of December 31, 2013. For each vessel, Starbulk S.A. receives a fixed management fee of $0.75 per day.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:171px;height:42px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Owning Company&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;DWT&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Effective Date&lt;br/&gt;of Management Agreement&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Year Built&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:171px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Kymopolia&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;January 30, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC *&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Obelix&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;181,433&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;October 19, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:16px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pacific Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Pantagruel&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;October 24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Big Bang&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;August 30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Big Fish&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;177,662&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;October 18, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Adore Shipping Corp.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Renascentia&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;74,732&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;June 20, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;1999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Hamon Shipping Inc&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Marto&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;74,470&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;August 2, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC*&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Strange Attractor&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;September 24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC *&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Maiden Voyage&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;September 28, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:171px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Serenity Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:115px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;Serenity I&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:58px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;53,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:135px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;June 11, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:73px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:13.3px;color:#000000; "&gt;2006&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Georgia;font-size:13.3px;color:#000000; "&gt;*&lt;/font&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The respective companies are Company's related parties (please refer to Note 3&lt;/font&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;font style="font-family:Georgia;font-size:13.3px;color:#000000; "&gt; &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri body;font-size:13.3px;color:#000000; "&gt;Charterers individually accounting for more than 10% of the Company's voyage revenues during the years ended December 31, 2011, 2012 and 2013 are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:15px;background-color:#ffffff"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;Charterer&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;&amp;#160;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2011&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2012&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&lt;b&gt;2013&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;A&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;B&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;C&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;12%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;14%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;13%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;D&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;19%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;15%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;E&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;15%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;28%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;34%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:69px;height:14px;background-color:#ffffff"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;F&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;10%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:66px;background-color:#ffffff"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Calibri;font-size:14.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
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  <us-gaap:LegalMattersAndContingenciesTextBlock contextRef="fyp0d__StarEpsilonAndStarKappaMember">The Company commenced arbitration proceedings against Ishhar Overseas that was the previous charterer of the vessels Star Epsilon and Star Kappa. The Company sought damages for repudiations of the charter parties due to early redelivery of the vessel as well as unpaid hire of $1,949. The Company pursued an interim award for such nonpayment of charter hire and an award for the loss of charter hire for the remaining period of the charter parties. Claim submissions were filed. As of December 31, 2011, the Company determined that this amount was not recoverable and recognized a provision for doubtful receivables, amounting to $1,949, which is included under "Bad debt expense" in the accompanying consolidated statements of operations for the year ended December 31, 2011. On September 5, 2012, a settlement agreement was signed between the shipowning companies of Star Epsilon and Star Kappa and Bhatia International Ltd, which is the parent company of Ishhar Overseas. Pursuant to the terms of this agreement the Company will receive an amount of $5,000 in seventeen installments.
The first installment of $500 was received upon the execution of the settlement agreement and the next sixteen monthly installments varying between $250 and $500 will be received on the last day of each month beginning from September 30, 2012. During the years ended December 31, 2012 and 2013, the Company received an amount of $2,514 and $2,500, respectively, under the respective agreement which is included under "Other operational gain" in the accompanying consolidated statements of operations for the years ended December 31, 2012 and 2013 (Note 11).</us-gaap:LegalMattersAndContingenciesTextBlock>
  <us-gaap:LegalMattersAndContingenciesTextBlock contextRef="fyp0d__StarGammaAndStarCosmoMember">In February 2011, Korea Line Corporation ("KLC"), charterers at the time of the vessel Star Gamma and of the vessel Star Cosmo commenced rehabilitation proceedings in Seoul, Korea. Under the rehabilitation plan approved by the KLC's creditors on October 14, 2011, the Company was entitled to receive an amount of $6,839, 37% of which will be repaid in cash over a period of ten years and the remaining 63% shall be converted into KLC's shares. The Company will receive one common share of KLC with par value of KRW 5,000 (approx. $0.0047) for each KRW 100,000 (approx. $0.09) of claim. Based on the terms of the rehabilitation plan, the shares of KLC will be locked up for six months before trade. The Company does not expect that will have either control or significant influence over KLC as a result of the shares entitled to receive under the terms of the rehabilitation plan. In addition, the Company entered into a direct agreement with the KLC under which the Company received an amount of $172 in October 2011 and an amount of $172 in January 2013, as part of the due hire for Star Gamma. Finally, the Company entered into two tripartite agreements with KLC and the sub-charterers of the vessels Star Gamma and Star Cosmo following the exercise of liens on the subhires due to KLC.
Under these agreements the Company received an amount of $86 from the Star Gamma subcharter in December 2011 and an amount of $121 in March 2012 from the Star Cosmo subcharterer. As of December 31, 2011, the Company determined that an amount of $498 was not recoverable due to the long term time period of KLC's rehabilitation plan and the uncertainty surrounding the continuation of KLC's operations and recognized a corresponding provision which is included under "Bad debt expense" in the accompanying consolidated statements of operations for the year ended December 31, 2011.
On November 19, 2012, the Company received 46,007 shares of KLC as part of the rehabilitation plan described above for the vessel Star Gamma, the shares were sold the same date at the average price of KRW 3,456. The cash proceeds from the sale of the respective shares amounted to $144. In December 2012, the Company also received an amount of $12 and $1 in cash, for Star Gamma and Star Cosmo respectively, pursuant to the terms of the rehabilitation plan. Total amount of $157 is included under "Other operational gain" in the accompanying consolidated statements of operations for the year ended December 31, 2012 (Note 11). In October 2013 the Company received an amount of $167 and $10 for Star Gamma and Star Cosmo respectively, pursuant to the terms of the rehabilitation plan, total amount of $177 included under "Other operational gain" in the accompanying consolidated statements of operations for the year ended December 31, 2013 (Note 11). The next bunch of 2,872 shares for the vessel Star Cosmo was released from lock up on June 4, 2013 and until December 31, 2013, the respective shares have not been sold.</us-gaap:LegalMattersAndContingenciesTextBlock>
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  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d1-1-13to31-12-14__HshNordbankCapesizeTrancheMember" decimals="2" unitRef="purenodecimals">0.03</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="d1-1-13to31-12-14__HshNordbankSupramaxTrancheMember" decimals="4" unitRef="purenodecimals">0.0275</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:OtherExpenses contextRef="fyp0d__CommercialClaim1Member" decimals="-3" unitRef="USD">1131000</us-gaap:OtherExpenses>
  <sblk:DebtInstrumentBasisSpreadOnVariableRate2 contextRef="i3-10-11__HshNordbankCapesizeTrancheMember">3%</sblk:DebtInstrumentBasisSpreadOnVariableRate2>
  <sblk:DebtInstrumentBasisSpreadOnVariableRate2 contextRef="i21-7-11__AbnAmroBankMember">2,9%</sblk:DebtInstrumentBasisSpreadOnVariableRate2>
  <sblk:DebtInstrumentBasisSpreadOnVariableRate2 contextRef="i20-1-11__CreditAgricoleCorporateAndInvestmentBankMember">2,7%</sblk:DebtInstrumentBasisSpreadOnVariableRate2>
  <sblk:DebtInstrumentBasisSpreadOnVariableRate2 contextRef="i3-9-10__CommerzbankAg2Member">2,6%</sblk:DebtInstrumentBasisSpreadOnVariableRate2>
  <sblk:DebtInstrumentBasisSpreadOnVariableRate2 contextRef="i27-12-07__CommerzbankAgMember">0.8% to 1.25%</sblk:DebtInstrumentBasisSpreadOnVariableRate2>
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  <us-gaap:PreferredStockParOrStatedValuePerShare contextRef="fyp0i__PreferredStockMember" decimals="2" unitRef="EPS">0.01</us-gaap:PreferredStockParOrStatedValuePerShare>
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  <us-gaap:PreferredStockSharesOutstanding contextRef="fym1i__PreferredStockMember" decimals="0" unitRef="Shares">0</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesOutstanding contextRef="fyp0i__PreferredStockMember" decimals="0" unitRef="Shares">0</us-gaap:PreferredStockSharesOutstanding>
  <us-gaap:PreferredStockSharesIssued contextRef="fym1i__PreferredStockMember" decimals="0" unitRef="Shares">0</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesIssued contextRef="fyp0i__PreferredStockMember" decimals="0" unitRef="Shares">0</us-gaap:PreferredStockSharesIssued>
  <us-gaap:PreferredStockSharesAuthorized contextRef="fym1i__PreferredStockMember" decimals="0" unitRef="Shares">25000000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:PreferredStockSharesAuthorized contextRef="fyp0i__PreferredStockMember" decimals="0" unitRef="Shares">25000000</us-gaap:PreferredStockSharesAuthorized>
  <us-gaap:StockholdersEquityReverseStockSplit contextRef="d15-10-12to31-12-12">Effective as of the opening of trading on October 15, 2012, the Company affected a one-for-fifteen reverse stock split of its common shares. The reverse stock split was approved by shareholders at the Company's 2012 Annual General Meeting of Shareholders held on September 7, 2012. The reverse stock split reduced the number of the Company's common shares from 81,012,403 to 5,400,810 and affected all issued and outstanding common shares. No fractional shares were issued in connection to the reverse split. Shareholders who would otherwise hold a fractional share of the Company's common stock received a cash payment in lieu of such fractional share.</us-gaap:StockholdersEquityReverseStockSplit>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__CommerzbankAgAggregateFacilityMember">On July 1, 2013, the Company entered into a loan supplemental agreement with Commerzbank for both loan agreements of $120,000 and $26,000 (see a and b), (the Company was committed to this agreement as of December 17, 2012). The amended terms of the supplemental agreement described below:
To defer 60% and 50% of the installments for the year ended December 31, 2013 and for the year ending December 31, 2014, respectively, (the "Deferred Amounts"). The Deferred Amounts will be added to the balloon payments, payable upon the expiration of the loan agreements in the fourth quarter of 2016 or in accordance with a cash sweep mechanism (see discussion below);
The on-charter covenant for the vessel Star Aurora on the $26,000 loan agreement is waived until July 31, 2015;
Minimum asset cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount, is reduced from 135%, to 80%, from September 30, 2012 up to the year ended December 31, 2013, to 85% for the six month period ending June 30, 2014, to 90% for the six month period ending December 31, 2014 and to 110% for the six month period ending June 30, 2015. Thereafter and until the repayment of the loan the asset cover ratio will be set to its initial level of 135%;
Minimum liquidity requirement is reduced to $500 for each of the Company's vessels from $1,000, until December 31, 2014;
The actual pledged amount on the $26,000 loan agreement, is reduced to $750 from $1,000;
Margin is increased to 3.00% p.a., for both facilities for as long as deferred amounts are outstanding and/or until original terms are complied with;
The Company paid a flat fee of 0.40% of the combined outstanding loan amount of the two facilities to the lender;
The market value adjusted equity ratio is reduced to 15% from 25%, from September 30, 2012 up to the year ending December 31, 2014;
Additional financial covenant requirement is added, ratio of EBITDA (as is defined in the definitive documentation) to interest of not less than 1.5:1.0 for the year ended December 31, 2013 and for the year ending December 31, 2014.
These amendments will apply, subject to several conditions, as described below:
A semi-annual cash sweep mechanism to be implemented on all mortgaged vessels on an individual vessel basis. Under this mechanism all earnings of these vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be used as repayment of the Deferred Amounts;
Star Bulk Carriers Corp. shall not pay any dividends following the agreement with the bank as long as Deferred Amounts are outstanding and/or until original terms are complied with;
A prepayment of $2,000, which was paid on December 31, 2012, and was applied pro rata against the balloon payments of the two facilities;
An equity increase of $30,000 until and including December 31, 2013, the respective condition was met after the completion of Company's rights offering in July 2013, which resulted in gross proceeds of $80,065 and its underwritten public offering in October, 2013, which resulted in gross proceeds of $70,840, (Note 10);
Increase the Company's vessel management services to cover at least 10 third-party vessels by December 31, 2013, the respective condition was met as of December 31, 2013 (Note 3).</sblk:LoanAmendmentDisclosure>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__HshNordbankAgMember">On July 17, 2013, the Company agreed to enter into a loan supplemental agreement (the Company was committed to this agreement as of December 21, 2012) and agreed to amended terms with HSH Nordbank AG, as described below:
To defer of a minimum of approximately $3,500 during the period from January 1, 2013 until December 31, 2014;
To prepay in total $6,590 of which $3,500 was applied against the balloon payment of Supramax Tranche and $3,090 was applied pro-rata against the eight quarterly repayment installments of the Supramax Tranche starting with the scheduled repayment date in January 2013, using pledged cash already held by the bank. This pledged amount will cease being a requirement for this facility following the prepayment;
The actual pledged amount is reduced to $200 from $400 for each mortgaged vessel under this credit facility. The released amount of $800 was used as a partial prepayment of the Supramax Tranche (50% was applied against the balloon payment of the Supramax Tranche and the remaining 50% was applied pro-rata against the eight quarterly repayment installments of the Supramax Tranche started with the scheduled repayment date in January 2013).
The minimum liquidity of $10,000 is reduced to $7,000 or $500 per fleet vessel until and including December 31, 2014;
The ratio of indebtedness of the borrowers over the aggregate fair market value of assets is increased to 90% from 75% until and including December 31, 2014;
The minimum market adjusted net worth of the Company is decreased to $30,000 from $100,000 until and including December 31, 2014;
The asset cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount is amended to 100% from September 30, 2012 until and including December 31, 2012 and to 110% from January 1, 2013 until and including December 31, 2013. Thereafter and until the repayment of the loan, the asset cover ratio will return to 125%;
The margin is increased to 3.50% for both Supramax and Capesize Tranches from 3.00% and 2.75% for the Capesize and the Supramax Tranche, respectively, from January 1, 2013 until December 31, 2014 (in the case that an event of default and/or covenant breach, has occurred, the increased margin will apply until the breach is remedied);
The waiver of the aggregated market value covenant, which required the vessels mortgaged under this loan agreement to maintain a value of 167% of the outstanding borrowings, upon the repayment of the Capesize Tranche, until and including December 31, 2013.
These amendments will apply, subject to several conditions, as described below:
A semi-annual cash sweep mechanism will be effective from June 30, 2013 and will be implemented on all vessels mortgaged under this loan agreement on an individual vessel basis. Under this mechanism all earnings of these vessels after operating expenses, dry docking provision, general and administrative expenses and debt service, if any, are to be used as applied to the balloon payment of the Supramax Tranche.
In the event of the sale of the vessel Star Sigma during the calendar years 2013 and 2014, proceeds from such sale will be used to fully repay the Capesize Tranche, while the remaining amount will be applied pro-rata against the remaining quarterly repayment installments of the Supramax Tranche until December 31, 2014. In April 2013 the Company fully prepaid the balance of the Capesize Tranche in connection with the sale of the vessel Star Sigma (Note 5) and the balance of the vessel sale proceeds of $4,123 was used to prepay a portion of the Supramax Tranche and the next seven scheduled quarterly installments commenced in April 2013 were reduced pro rata according to the prepayment from $813 to $224;
Star Bulk Carriers Corp. and the ship-owning subsidiaries shall not pay any dividends following the agreement with the bank until December 31, 2014, or later in case of a covenant breach;
An equity increase of minimum $20,000 within the year ended December 31, 2013 and started to apply from October 1, 2013, the proceeds of which are to be used solely for investment on new vessels' acquisition(s); the respective condition was met after the completion of Company's rights offering in July 2013, which resulted in gross proceeds of $80,065 and its underwritten public offering in October, 2013, which resulted in gross proceeds of $70,840, (Note 10);
Payment of a one-time processing fee of $12.</sblk:LoanAmendmentDisclosure>
  <us-gaap:DebtInstrumentCovenantDescription contextRef="fyp0d__HshNordbankAgMember">This loan agreement contains financial covenants including requirements to maintain (i) the ratio of indebtedness of the borrower over the aggregate fair market value of the assets shall not be greater than 75% until December 31, 2013 and 70% thereafter; (ii) a minimum market adjusted net worth of not less than $100,000; (iii) a minimum interest coverage ratio of not less than 2.0:1.0; (iv) an actual pledged amount of $2,000 or $400 for each mortgaged vessel under this credit facility, whichever is greater; (v) a minimum liquidity of $10,000; (vi) an actual pledged amount of $6,504 representing the shortfall between the drawdown amount and the fair value of the collateral vessels on the drawdown date and; (vii) an aggregate market value of the vessels mortgaged as security under this loan agreement should not be less than (a) 125% of the then outstanding borrowings until the repayment of Capesize Tranche and (b) 167% of the then outstanding borrowings thereafter. </us-gaap:DebtInstrumentCovenantDescription>
  <us-gaap:DebtInstrumentPaymentTerms contextRef="fyp0d__HshNordbankAgMember">The borrowing under this new loan agreement together with $5,326 in cash used to repay in full the Company's indebtedness under its old loan agreements with Piraeus Bank S.A; a term loan of $150,000 dated April 14, 2008 and of a term loan of $35,000 dated July 1, 2008, in 2011. The senior secured term loan facility consisted of two tranches. The first tranche amounted to $48,500 the ("Supramax Tranche") and is repayable in 20 quarterly consecutive installments of $1,250 each, which commenced in January 2012, and a final balloon payment of $23,500. The second tranche amounted to $16,000 the ("Capesize Tranche") and is repayable in 12 consecutive installments of $1,333 each, which commenced in January 2012.</us-gaap:DebtInstrumentPaymentTerms>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__AbnAmroBankMember__Amendment2Member">On April 2, 2013, the Company entered into a second supplemental agreement with ABN Amro Bank N.V. (the Company was committed to this agreement as of January 29, 2013). Under the terms of this agreement for the period from October 1, 2012 until December 31, 2014 the "New Waiver Period", it is agreed to amended terms as described below:
The minimum market adjusted net worth of the group to be decreased to $30,000 from $100,000;
The minimum liquidity of $750 per fleet vessel to be reduced to $500 per fleet vessel;
Ratio of EBITDA to interest expense to be decreased to 1.5:1.0 from 3.0:1.0;
Total leverage ratio of the corporate guarantor to be increased to 110% from 75%;
Minimum security cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount, will be amended to 75% from 100%.
These amendments will apply, subject to several conditions, as described below:
Margin increase of 50bp if the Company fails to raise equity in an amount of $30,000 million until March 31, 2013; The Company paid the increased margin of 50bp for the period from March 31, 2013 until July 26, 2013,upon the completion of the Company's rights offering which resulted in net proceeds of $77,898 after deducting offering expenses of $2,167 (Note 10);
Star Bulk Carriers Corp. shall not pay any dividends during the New Waiver Period.</sblk:LoanAmendmentDisclosure>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__AbnAmroBankMember__Amendment1Member">On March 16, 2012, the Company entered into a first supplemental agreement with ABN AMRO Bank N.V. (the Company was committed to this agreement as of January 26, 2012). Under the terms of this agreement for the period from January 26, 2012 until January 31, 2013 the "Waiver Period", the minimum security cover ratio was reduced to 100%, the leverage ratio increased to 75% and the margin increased to 3.4% p.a. from 2.9% p.a.</sblk:LoanAmendmentDisclosure>
  <us-gaap:DebtInstrumentCovenantDescription contextRef="fyp0d__AbnAmroBankMember">This senior secured credit facility contains financial covenants and other customary covenants, including requirements to maintain: (i) the leverage ratio shall not be greater than 70%, (ii) a ratio of EBITDA  to interest expense, no less than 3.0:1.0, (iii) minimum liquidity of $10,000 or $750 for each of the Company's vessels, whichever is greater, (iv) a minimum market adjusted net worth of not less than $100,000 and (v) a maintenance reserve account up to $1,500 which can only be used for the payment of the dry-docking of vessel Star Mega. The total amount included in the maintenance reserve account was released in September 2012 in order to cover part of the respective vessel's dry-docking cost. This senior secured credit facility also requires the borrowers to maintain an aggregate charter-free fair market value of the Star Big and the Star Mega of at least 135% of the amount outstanding under the facility until three months prior to the expiration of the time charter of the Star Mega and 150% thereafter. In addition, the facility requires the Company's Chairman, including members of his immediate family, to maintain minimum levels of beneficial ownership of the Company's outstanding common shares.</us-gaap:DebtInstrumentCovenantDescription>
  <us-gaap:DebtInstrumentPaymentTerms contextRef="fyp0d__AbnAmroBankMember">This senior secured credit facility is repayable in 18 consecutive quarterly installments which commenced three months after the initial borrowings, in October 2011. The first 14 installments amount to $1,400 each, the remaining four installments amount to $625 each and a final balloon payment of $8,900 is payable together with the last installment.</us-gaap:DebtInstrumentPaymentTerms>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__CreditAgricoleCorporateAndInvestmentBankMember">On May 20, 2013, the Company signed a waiver letter with Credit Agricole Corporate and Investment Bank (the Company was committed to this agreement as of December 14, 2012) and the amended terms described below:
The ratio of the total indebtedness of the borrower less liquid funds over the market value of all vessels owned is increased to 0.95:1.0 from 0.7:1.0 until March 31, 2014;
Minimum asset cover ratio, which is the ratio of the aggregate market value of the vessels mortgaged as security under this loan agreement to the outstanding loan amount is amended to 105% from 120% until the March 31, 2014. Thereafter and until the repayment of the loan the asset cover ratio will return to its initial level;
Minimum liquidity is decreased to $7,000 or $500 per fleet vessel, whichever is higher, from $10,000;
Star Bulk Carriers Corp. shall not pay any dividends until March 31, 2014 and as long as the financial covenants included in the original agreement dated January 20, 2011 are not met. During this period, all surplus earnings of the financed vessels under the specific loan agreement, after operating expenses and debt service will be held in lender's account and not to be distributed to the Company.</sblk:LoanAmendmentDisclosure>
  <us-gaap:DebtInstrumentCovenantDescription contextRef="fyp0d__CreditAgricoleCorporateAndInvestmentBankMember">This loan agreement with Credit Agricole Corporate and Investment Bank contains financial covenants, including requirements to maintain (i) a minimum liquidity of $10,000 or $500 per fleet vessel, whichever is greater (ii) the total indebtedness of the borrower over the market value of all vessels owned shall not be greater than 0.7:1, effective from October 15, 2011, (iii) an actual pledged amount of $500 per mortgaged vessel and (iv) the minimum asset cover ratio shall not be less than (a) 120% during the first two years from delivery of each vessel and (b) 125% of the then outstanding borrowings thereafter, unless a mortgaged vessel is subject to an approved charter with an unexpired duration at least 18 months, in which case the relevant percentage shall be 120% for the duration such approved charter.</us-gaap:DebtInstrumentCovenantDescription>
  <us-gaap:DebtInstrumentPaymentTerms contextRef="fyp0d__CreditAgricoleCorporateAndInvestmentBankMember">Under the terms of this term loan facility, the repayment is over a seven year period and commenced three months after the delivery of each vessel. The loan is repayable in twenty eight consecutive quarterly installments, per vessel, amounting to $485.4 and $499.7, respectively and a final balloon payment which is payable together with the last installment of $19,558.2 and $20,134 for Star Borealis and Star Polaris, respectively. </us-gaap:DebtInstrumentPaymentTerms>
  <us-gaap:DebtInstrumentCovenantDescription contextRef="fyp0d__CommerzbankAg2Member">The loan contains financial covenants, including requirements to maintain (i) a minimum liquidity of $10,000 or $1,000 per vessel, whichever is greater (ii) the market value adjusted equity ratio shall not be less than 25%, as defined therein and (iii) an actual pledged amount of $650 for this vessel that will increase to $1,000 when cash pledged due to waiver dated December 24, 2009 shall be released (iv) an aggregate market value of the vessel mortgaged as security under this loan agreement not less than 135% of the then outstanding borrowings at all times.</us-gaap:DebtInstrumentCovenantDescription>
  <us-gaap:DebtInstrumentPaymentTerms contextRef="fyp0d__CommerzbankAg2Member">The loan is repayable over a six year period, in twenty-four consecutive quarterly installments of $950 each, which commenced in December 2010, three months after the drawdown, and a final balloon payment of $3,200 payable together with the last installment.</us-gaap:DebtInstrumentPaymentTerms>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__CommerzbankAgMember__Amendment2Member">On December 24, 2009, the Company entered into a second supplemental agreement with Commerzbank. Under the terms of this agreement during the waiver period from February 1, 2010 to June 30, 2010 and from July 1, 2010 to January 31, 2011 the security cover shall be at least 111% and 118%, respectively whether at all times thereafter 135%. Furthermore, the bank consented to: i) the sale of Star Alpha, ii) the payment of dividends not exceeding $0.05 per share in each quarter iii) the reduction of minimum liquidity from $1,000 to $650 per fleet vessel, iv) the increase of the pledged deposit by $1,250 from $6,000 to $7,250. The interest spread was also maintained to 2.00% p.a. for the duration of the waiver period. Based on the same agreement after the waiver period on January 31, 2011 the minimum liquidity was increased from $650 to $1,000 per fleet vessel and the pledged deposit of $7,250 was released.</sblk:LoanAmendmentDisclosure>
  <sblk:LoanAmendmentDisclosure contextRef="fyp0d__CommerzbankAgMember__Amendment1Member">Under the terms of this agreement during the waiver period from December 31, 2008 to January 31, 2010, the security cover requirement was reduced to 111%. As further security for this facility, the Company shall provide a first preferred mortgage on the vessel Star Alpha and shall pledge an amount of $6,000 to the lenders. Furthermore, the interest spread was increased to 2.00% p.a. for the duration of the waiver period. Subsequent to the waiver period, if the asset cover percentage is less than 60%, between 60% to 70%, between 70% to 75% and more than 75%, the interest spread should be 0.8%, 0.9%, 1.0% and 1.25% respectively. In addition, during the waiver period, payments of dividend, share repurchases and investments are subject to the prior written consent of the lenders.</sblk:LoanAmendmentDisclosure>
  <us-gaap:DebtInstrumentCovenantDescription contextRef="fyp0d__CommerzbankAgMember">The loan contains financial covenants, including requirements to maintain (i) a minimum liquidity of $10,000 or $1,000 per vessel, whichever is greater (ii) the market value adjusted equity ratio shall not be less than 25%, as defined therein and (iii) an aggregate market value of the vessels mortgaged as security under this loan agreement not less than (a) 125% of the then outstanding borrowings for the first three years and (b) 135% of the then outstanding borrowings thereafter.</us-gaap:DebtInstrumentCovenantDescription>
  <us-gaap:DebtInstrumentPaymentTerms contextRef="fyp0d__CommerzbankAgMember">Under the terms of this loan facility, the repayment of $120,000 is over a nine year term and divided into two tranches. The first of up to $50,000 is repayable in twenty-eight consecutive quarterly installments which commenced in January 2010: (i) the first four installments amount to $2,250 each, (ii) the next thirteen installments amount to $1,000 each (iii) the remaining eleven installments amount to $1,300 each and a final balloon payment of $13,700 is payable together with the last installment. The second tranche of up to $70,000 is repayable in twenty-eight consecutive quarterly installments which commenced in January 2010: (i) the first four installments amount to $4,000 each (ii) the remaining twenty-four installments amount to $1,750 each and a final balloon payment of $12,000 is payable together with the last installment.</us-gaap:DebtInstrumentPaymentTerms>
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  <sblk:DebtRestructuringCostPercentage contextRef="d18-12-12to31-12-14__CommerzbankAgAggregateFacilityMember" decimals="4" unitRef="purenodecimals">0.004</sblk:DebtRestructuringCostPercentage>
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  <sblk:RentExpensePerMonth contextRef="CombineMarine2011Lease__CombineMarineIncMember" decimals="0" unitRef="USD">6900</sblk:RentExpensePerMonth>
  <us-gaap:InterestPaidNet contextRef="fym2d" decimals="-3" unitRef="USD">3893000</us-gaap:InterestPaidNet>
  <us-gaap:InterestPaidNet contextRef="fym1d" decimals="-3" unitRef="USD">7612000</us-gaap:InterestPaidNet>
  <us-gaap:InterestPaidNet contextRef="fyp0d" decimals="-3" unitRef="USD">6156000</us-gaap:InterestPaidNet>
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  <sblk:AmortizationOfFairValueOfBelowMarketAcquiredTimeCharterNet contextRef="fyp0d" decimals="-3" unitRef="USD">0</sblk:AmortizationOfFairValueOfBelowMarketAcquiredTimeCharterNet>
  <sblk:AmortizationOfFairValueOfBelowMarketAcquiredTimeCharterNet contextRef="fym1d" decimals="-3" unitRef="USD">0</sblk:AmortizationOfFairValueOfBelowMarketAcquiredTimeCharterNet>
  <sblk:AmortizationOfFairValueOfBelowMarketAcquiredTimeCharterNet contextRef="fym2d" decimals="-3" unitRef="USD">179000</sblk:AmortizationOfFairValueOfBelowMarketAcquiredTimeCharterNet>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="fyp0d" decimals="-3" unitRef="USD">127814000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="fym1d" decimals="-3" unitRef="USD">91000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:PaymentsToAcquirePropertyPlantAndEquipment contextRef="fym2d" decimals="-3" unitRef="USD">96388000</us-gaap:PaymentsToAcquirePropertyPlantAndEquipment>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="fym2d" decimals="0" unitRef="Shares">24949</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="fym2d" decimals="2" unitRef="EPS">35.1</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="fym2d" decimals="2" unitRef="EPS">35.7</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="fym3i" decimals="1" unitRef="EPS">39.9</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="fym2d" decimals="0" unitRef="Shares">49867</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="fym3i" decimals="0" unitRef="Shares">3082</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:StockholdersEquity contextRef="fyp0i__CommonStockMember" decimals="-3" unitRef="USD">291000</us-gaap:StockholdersEquity>
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