<SEC-DOCUMENT>0000950142-15-002141.txt : 20150924
<SEC-HEADER>0000950142-15-002141.hdr.sgml : 20150924
<ACCEPTANCE-DATETIME>20150924164830
ACCESSION NUMBER:		0000950142-15-002141
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20150924
FILED AS OF DATE:		20150924
DATE AS OF CHANGE:		20150924

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Star Bulk Carriers Corp.
		CENTRAL INDEX KEY:			0001386716
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33869
		FILM NUMBER:		151123455

	BUSINESS ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
		BUSINESS PHONE:		011-30-210-617-8400

	MAIL ADDRESS:	
		STREET 1:		C/O STAR BULK MANAGEMENT INC.
		STREET 2:		40 AGIOU KONSTANTINOU STR, MAROUSSI
		CITY:			ATHENS
		STATE:			J3
		ZIP:			15124
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>eh1501197_6k.htm
<DESCRIPTION>FORM 6-K
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif">UNITED STATES</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif">SECURITIES AND EXCHANGE COMMISSION</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Washington, D.C. 20549</div>

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<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 18pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 9pt">FORM 6-K</div>

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<div style="TEXT-ALIGN: center"><font style="FONT-WEIGHT: bold">REPORT OF FOREIGN PRIVATE ISSUER</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-WEIGHT: bold">PURSUANT TO RULE 13A-16 OR 15D-16</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-WEIGHT: bold">OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">For the month of September&#160;2015</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Commission File Number:&#160; 001-33869<br />
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 STAR BULK CARRIERS CORP.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN-TOP: 12pt">Star Bulk Carriers Corp.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>c/o Star Bulk Management Inc.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>40 Agiou Konstantinou Street,<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>15124 Maroussi,<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>Athens, Greece<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif">(Address of principal executive office)</font></div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form&#160;40&#8209;F.</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">Form 20-F&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9746;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form 40-F&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font></div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 9pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font>.</div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 9pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Note</font>:&#160; Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 9pt">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#9744;</font>.</div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 9pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Note</font>:&#160; Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>

<div style="MARGIN-BOTTOM: 9pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-TOP: 9pt">The information contained in this Form 6-K (including the exhibits hereto) is hereby incorporated by reference into the registrant's Registration Statements on Form F-3 (File Nos. 333-197886 and 333-198832) and Registration Statement on Form S-8 (File No. 333-176922), to be a part thereof from the date on which this report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Attached as Exhibit&#160;99.1 to this Form 6-K is a Management's Discussion and Analysis of Financial Condition and Results of Operations and the unaudited interim condensed consolidated financial statements of Star Bulk Carriers Corp. (the "Company" or "Star Bulk") as of and for the six months ended June 30, 2014 and 2015.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">SIGNATURES</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Date:&#160; September 24, 2015</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">STAR BULK CARRIERS CORP.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(Registrant)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">By:</div>
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<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" colspan="2">/s/ Simos Spyrou</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Simos Spyrou</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Co-Chief Financial Officer</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Exhibit<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">No.&#160; &#160; &#160; &#160;</font></div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">99.1</div>
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<td style="WIDTH: 91%; VERTICAL-ALIGN: top"><a href="eh1501197_ex9901.htm">Management's Discussion and Analysis of Financial Condition and Results of Operations and our unaudited interim condensed consolidated financial statements of the Company as of and for the six months ended June&#160;30, 2014 and 2015</a></td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>eh1501197_ex9901.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">EXHIBIT 99.1</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">MANAGEMENT'S DISCUSSION AND ANALYSIS OF<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>FINANCIAL CONDITION AND RESULTS OF OPERATIONS</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following is a discussion of financial condition and results of operations of Star Bulk Carriers Corp.&#160; ("Star Bulk") for the six month periods ended June&#160;30, 2014 and 2015.&#160; Unless otherwise specified herein, references to the "Company", "we", "us" or "our" shall include Star Bulk and its subsidiaries.&#160; You should read the following discussion and analysis together with the unaudited interim condensed consolidated financial statements and related notes included elsewhere in this report.&#160; For additional information relating to our management's discussion and analysis of financial condition and results of operation, please see our Annual Report on Form 20-F for the year ended December&#160;31, 2014, which was filed with the U.S. Securities and Exchange Commission (the "Commission") on April 8, 2015.&#160; This discussion includes forward-looking statements which, although based on assumptions that we consider reasonable, are subject to risks and uncertainties which could cause actual events or conditions to differ materially from those currently anticipated and expressed or implied by such forward-looking statements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Overview</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We are an international company providing worldwide transportation of dry bulk commodities through our vessel-owning subsidiaries for a broad range of customers of major bulk cargoes including coal, iron ore, and grains, and minor bulk cargoes including, bauxite, phosphate, fertilizers and steel products. We were incorporated in the Marshall Islands on December&#160;13, 2006 and on December&#160;3, 2007, we commenced operations when we took delivery of our first vessel.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In July&#160;2014, we completed a transaction in which we acquired Oceanbulk Shipping LLC ("Oceanbulk Shipping") and Oceanbulk Carriers LLC, ("Oceanbulk Carriers", and, together with Oceanbulk Shipping, "Oceanbulk") from Oaktree Dry Bulk Holdings LLC (including affiliated funds, "Oaktree") and Millennia Holdings LLC ("Millennia Holdings", and together with Oaktree, the "Sellers") through the merger of our wholly-owned subsidiaries into Oceanbulk's holding companies (the "Merger").&#160; At the time of the Merger, Oceanbulk owned and operated a fleet of 12 dry bulk carrier vessels and owned contracts for the construction of 25 newbuilding fuel-efficient Eco-type dry bulk vessels&#160; at shipyards in Japan and China.&#160; Millennia Holdings is an entity that is affiliated with the family of Mr.&#160;Petros Pappas, who became our Chief Executive Officer in connection with the Merger.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The agreement governing the Merger also provided for the acquisition by us (the "Heron Transaction") of two Kamsarmax vessels (the "Heron Vessels"), from Heron Ventures Ltd.&#160; ("Heron"), a limited liability company incorporated in Malta, which was a joint venture between Oceanbulk Shipping and a third party.&#160; We completed the Heron Transaction in December 2014.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, concurrently with the Merger, we completed a transaction (the "Pappas Transaction"), in which we acquired all of the issued and outstanding shares of Dioriga Shipping Co. and Positive Shipping Company (collectively, the "Pappas Companies"), which were entities owned and controlled by affiliates of the family of Mr.&#160;Pappas (the "Pappas Shareholders").&#160; At the time of the Pappas Transaction, the Pappas Companies owned and operated a dry bulk carrier vessel (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Tsu Ebisu</font>) and had a contract for the construction of a newbuilding dry bulk carrier vessel,&#160; <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Indomitable </font>(ex-HN 5016), which was delivered to us in January&#160;2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We refer to the Merger, the Heron Transaction and the Pappas Transaction, together, as the "July&#160;2014 Transactions".</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">A total of 54,104,200 of our common shares were issued to the various selling parties in the July&#160;2014 Transactions, of which 45,460,324 shares were issued to Oaktree, and 8,643,876 shares were issued to the owners of the Pappas Companies.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On August&#160;19, 2014, we entered into definitive agreements with Excel Maritime Carriers Ltd.&#160; ("Excel"), pursuant to which we acquired 34 dry bulk carrier vessels, consisting of six Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and two Handymax vessels (collectively, the "Excel Vessels") for an aggregate of 29,917,312 common shares and $288.4 million in cash. We completed the acquisition of the last Excel Vessel in April 2015.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We refer to the foregoing transactions relating to the acquisition of the Excel Vessels as the "Excel Transactions", and we refer to the Excel Transactions and the July&#160;2014 Transactions as the "Transactions".</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Our Fleet</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our fleet carries a variety of dry bulk commodities including coal, iron ore, and grains, or major bulks, as well as bauxite, phosphate, fertilizers and steel products, or minor bulks. As of August 31, 2015, our operating fleet consisted of 70 vessels. Our operating fleet includes 13 Eco-type vessels, which we define as vessels that are designed to be more fuel-efficient than standard vessels of similar size and age, and has an aggregate carrying capacity of approximately 7.4 million dwt. In addition, we have contracts for the construction of 21 Eco-type vessels (including for one newbuilding vessel we expect to sell upon delivery, as further discussed below).&#160; By the end of the third quarter of 2016, we expect our 90-vessel fleet to have an average age of 6.6 years and an aggregate carrying capacity of 10.5 million dwt.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the six month period ended June 30, 2015, we entered into an agreement with a third party to sell one of our newbuilding vessels upon its delivery to us, which we expect will take place in 2016.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, during the six month period ended June 30, 2015, we entered into a cancellation agreement with a shipyard for the cancellation of a shipbuilding contract for one of the vessels previously scheduled to be delivered to us in June 2016 under a bareboat agreement. Under this cancellation agreement, we have no obligation to compensate the shipbuilder or the bareboat charterer for this cancelled vessel.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">After the completion of the July&#160;2014 Transactions on July&#160;11, 2014, all of the vessels owned by Oceanbulk, which were previously under our commercial and technical management, became our owned vessels.&#160; As of August 31, 2015, we provide commercial and technical management services to one Supramax third party vessel.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following tables present summary information relating to our existing fleet, our newbuilding vessels and the third party vessels under our management as of August 31, 2015, including the vessels we acquired in the Transactions, giving also effect to the sales of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Claudia</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maiden Voyage</font> discussed below:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Existing On the Water Fleet Profile</u></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>

<table id="3b1e04b23f684cb698609b682fd1cc82" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 5.43%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold">Vessel&#160;Name</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 17.59%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Drybulk</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Vessel Type</font></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 11.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Capacity</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(dwt.)</font></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold">Year&#160;Built</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold">Date Delivered to Star Bulk</div>
</td>
</tr>

<tr>
<td style="WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff"></td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">1</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Goliath</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>209,537</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">15-Jul-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Gargantua</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>209,529</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2-Apr-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">3</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Maharaj</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>209,472</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">15-Jul-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">4</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Deep Blue</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>182,608</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">27-May-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">5</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Leviathan</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>182,511</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">19-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">6</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Peloreus</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>182,496</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">22-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">7</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Indomitable</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>182,476</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">8-Jan-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">8</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Obelix</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>181,433</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">9</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Christine</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>180,274</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2010</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">31-Oct-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">10</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Pauline</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>180,274</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2008</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">29-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Pantagruel</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>180,181</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2004</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">12</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Borealis</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>179,678</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">9-Sep-11</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">13</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Polaris</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>179,600</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">14-Nov-11</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">14</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Angie</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>177,931</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">29-Oct-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">15</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Big Fish</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>177,643</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2004</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">16</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Kymopolia</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>176,990</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">17</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Big Bang</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>174,109</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">18</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Aurora</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>171,199</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">8-Sep-10</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">19</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Despoina</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>170,162</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">1999</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">29-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">20</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Eleonora</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>164,218</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2001</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">3-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">21</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Monisha</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>164,218</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2001</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2-Feb-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">22</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Amami</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>98,681</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">23</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Madredeus</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>98,681</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">24</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Sirius</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>98,681</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">7-Mar-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">25</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Vega</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Post Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>98,681</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2011</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">13-Feb-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">26</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Angelina</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,981</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">5-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">27</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Gwyneth</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,790</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">5-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">28</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Kamila</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,769</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2005</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">3-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">29</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Pendulum</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,619</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">30</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Maria</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,598</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">5-Nov-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">31</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Markella</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,594</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">29-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">32</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Danai</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,574</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">21-Oct-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">33</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Georgia</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,298</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">14-Oct-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">34</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Sophia</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,269</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2007</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">31-Oct-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">35</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Mariella</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,266</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">19-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">36</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Moira</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,257</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">19-Nov-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">37</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Nina</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,224</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">5-Jan-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">38</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Renee</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,221</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">19-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">39</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Nasia</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,220</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">29-Aug-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">40</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Laura</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,209</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">9-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">41</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Jennifer</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>82,209</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">15-Apr-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">42</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Helena</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>82,187</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">29-Dec-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">43</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Mercurial Virgo</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>81,545</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">44</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Magnum Opus</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>81,022</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">45</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Tsu Ebisu</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Kamsarmax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>81,001</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2014</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">3</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<table id="b89d36cf69944babbe954e5bf4f43cec" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">46</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Iris</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>76,466</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2004</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">8-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">47</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Aline</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>76,429</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2004</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">4-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">48</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Emily</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>76,417</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2004</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">16-Sep-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">49</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Nicole</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>73,751</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">1997</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">14-Jan-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">50</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Vanessa</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Panamax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>72,493</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">1999</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">7-Nov-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">51</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Idee Fixe (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>63,458</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">25-Mar-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">52</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Roberta (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>63,426</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">31-Mar-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">53</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Laura (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>63,399</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">7-Apr-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">54</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Kaley (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>63,283</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">26-Jun-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">55</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Challenger</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>61,462</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2012</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">12-Dec-13</div>
</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">56</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Fighter</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>61,455</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2013</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">30-Dec-13</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">57</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Honey Badger</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>61,297</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">27-Feb-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">58</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Wolverine</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>61,297</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">27-Feb-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">59</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Aquarius</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>60,916</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">22-Jul-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">60</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Pisces</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>60,916</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2015</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">7-Aug-15</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">61</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Strange Attractor</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>55,742</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2006</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">11-Jul-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">62</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Omicron</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>53,489</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2005</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">17-Apr-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">63</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Gamma</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>53,098</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2002</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">4-Jan-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">64</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Zeta</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>52,994</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2003</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2-Jan-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">65</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Delta</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>52,434</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2-Jan-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">66</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Theta</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>52,425</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2003</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">6-Dec-07</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">67</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Epsilon</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>52,402</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2001</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">3-Dec-07</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">68</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Cosmo</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>52,246</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">2005</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">1-Jul-08</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">69</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Kappa</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div>52,055</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">2001</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">14-Dec-07</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">70</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Star Michele</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Handymax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div>45,588</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.68%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">1998</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18.09%; VERTICAL-ALIGN: top; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">14-Oct-14</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 5.43%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 21.61%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 17.59%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total dwt:</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11.9%; VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold">7,375,054</div>
</td>
<td style="WIDTH: 3.68%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 12%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 3.23%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="WIDTH: 18.09%; VERTICAL-ALIGN: top; BACKGROUND-COLOR: #ffffff">&#160;</td>
</tr>
</table>

<div>
<div style="MARGIN-BOTTOM: 4pt"><br />
</div>

<div>
<hr style="HEIGHT: auto; WIDTH: 10%; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 0px; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" noshade="noshade" />
(*) <font style="FONT-STYLE: italic">Subject to a bareboat charter that is accounted for as a capital lease.</font></div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>
</div>

<div><br />
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">4</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><u>Newbuilding Vessels</u></div>

<div>&#160;</div>

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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Vessel&#160;Name</div>
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<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt">Drybulk</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font><font style="FONT-SIZE: 10pt">Vessel Type</font></div>
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<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center"><font style="FONT-SIZE: 10pt">Capacity</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font><font style="FONT-SIZE: 10pt">(dwt.)</font></div>
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<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Shipyard</div>
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<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-SIZE: 10pt">Expected Delivery</font><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font><font style="FONT-SIZE: 10pt">&#160;Date</font></div>
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<div style="TEXT-ALIGN: right">1</div>
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<div style="TEXT-ALIGN: left">&#160;</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN NE 198 (tbn <font style="FONT-STYLE: italic">Star Poseidon</font>)</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">209,000</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
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<div style="TEXT-ALIGN: left">NACKS, China</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">March&#160;2016</div>
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<div style="TEXT-ALIGN: right">2</div>
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<div style="TEXT-ALIGN: left">&#160;</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1359 (<font style="FONT-STYLE: italic"><font style="FONT-STYLE: normal">tbn</font> Star Marisa</font>) (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">February 2016</div>
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<div style="TEXT-ALIGN: right">3</div>
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<div style="TEXT-ALIGN: left">&#160;</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1372 (tbn <font style="FONT-STYLE: italic">Star Libra</font>)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>(*)</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">208,000</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">November&#160;2015</div>
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<div style="TEXT-ALIGN: right">4</div>
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<div style="TEXT-ALIGN: left">&#160;</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1360 (tbn <font style="FONT-STYLE: italic">Star Ariadne</font>) (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July 2016</div>
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<div style="TEXT-ALIGN: right">5</div>
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<div style="TEXT-ALIGN: left">&#160;</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1342 (tbn <font style="FONT-STYLE: italic">Star Gemini</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">July 2016</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">6</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1371 (tbn <font style="FONT-STYLE: italic">Star Virgo</font>)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#160;</sup>(*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">July 2016</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">7</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1361 (tbn <font style="FONT-STYLE: italic">Star Magnanimus</font>) (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">208,000</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">August 2016</div>
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<div style="TEXT-ALIGN: right">8</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">&#160;</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1363 (tbn <font style="FONT-STYLE: italic">Star Chaucer</font>) (*)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">September 2016</div>
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<div style="TEXT-ALIGN: right">9</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1343 (tbn <font style="FONT-STYLE: italic">Star Leo</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">August 2016</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">10</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 5055 (tbn <font style="FONT-STYLE: italic">Behemoth</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">182,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">JMU, Japan</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January 2016</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">11</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 5056 (tbn <font style="FONT-STYLE: italic">Megalodon</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">182,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">JMU, Japan</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">January 2016</div>
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<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">12</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1312 (tbn <font style="FONT-STYLE: italic">Bruno Marks</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">October 2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">13</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1313 (tbn <font style="FONT-STYLE: italic">Jenmark</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">October 2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1338 (tbn <font style="FONT-STYLE: italic">Star Aries</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">October 2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1339 (tbn <font style="FONT-STYLE: italic">Star Taurus</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">SWS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">April 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">16</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1080 (tbn <font style="FONT-STYLE: italic">Kennadi</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">New Yangzijiang, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">January 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">17</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1081 (tbn <font style="FONT-STYLE: italic">Mackenzie</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">New Yangzijiang, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">February 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">18</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN 1082 (tbn <font style="FONT-STYLE: italic">Night Owl</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">New Yangzijiang, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">March 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">19</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN 1083 (tbn <font style="FONT-STYLE: italic">Early Bird</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">New Yangzijiang, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">April 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">HN NE 196 (tbn <font style="FONT-STYLE: italic">Star Antares</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">61,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">NACKS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">October 2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">21</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">HN NE 197 (tbn <font style="FONT-STYLE: italic">Star Lutas</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">61,000</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: left">NACKS, China</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="TEXT-ALIGN: right">January 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: right">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 3%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total dwt:</div>
</td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 10%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #ffffff">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">3,335,000</div>
</td>
<td style="WIDTH: 3%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">&#160;</div>
</td>
</tr>
</table>

<div>
<div style="MARGIN-BOTTOM: 4pt"><br />
</div>

<div>
<hr style="HEIGHT: auto; WIDTH: 10%; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 0px; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" noshade="noshade" />
<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">&#160;(*) Subject to a bareboat </font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">charter that will be accounted for as a capital lease</font>.</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-TOP: 12pt"><u>Third Party Vessel Under Management</u></div>

<table id="6ba8e91d65e84d438502ffcef51dc6e8" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: normal; WIDTH: 25%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; FONT-WEIGHT: bold; FONT-STYLE: normal">
<div style="TEXT-ALIGN: left">Vessel Name</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: normal; WIDTH: 25%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; FONT-WEIGHT: bold; FONT-STYLE: normal">
<div style="TEXT-ALIGN: center">Type</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: normal; WIDTH: 25%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; FONT-WEIGHT: bold; FONT-STYLE: normal">
<div style="TEXT-ALIGN: center">DWT</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-VARIANT: normal; WIDTH: 25%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; FONT-WEIGHT: bold; FONT-STYLE: normal">
<div style="TEXT-ALIGN: center">Year Built</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left">Serenity I</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">Supramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">53,688</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">&#160;</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">&#160;</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">1</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 25%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 4px double; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">53,688</div>
</td>
<td style="WIDTH: 25%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>
</table>

<div>
<div style="MARGIN-BOTTOM: 4pt">&#160;</div>

<div style="MARGIN-BOTTOM: 4pt; TEXT-ALIGN: justify">
<hr style="HEIGHT: auto; WIDTH: 10%; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 0px; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" noshade="noshade" />
 As used herein, "JMU" refers to Japan Marine United, "SWS" refers to Shanghai Waigaoqiao Shipbuilding Co., Ltd., "NACKS" refers to Nantong COSCO KHI Ship Engineering Co., Ltd., and "New Yangzijiang" refers to Jiangsu Yangzijiang Shipbuilding Co. Ltd, and "CSSC" refers to CSSC (Hong Kong) Shipping Company Limited.</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Recent and Other Developments</div>

<div>
<table id="69ed707d64fc43c39c4fc82c0108f2ed" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Negotiated vessel delivery delays</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 27pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left; MARGIN-LEFT: 27pt">In July 2015, we reached an agreement in principle with certain shipyards to further defer the delivery of certain of our newbuilding vessels for periods ranging from one to five months. These agreements are subject to execution of final documentation by both parties. The table above gives effect to the negotiated dates.</div>

<div>&#160;</div>

<div>
<table id="3b9fce3299bd42b3b705ecc421f2c687" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Agreement to reduce the purchase price of certain newbuilding vessels</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">In July 2015, we reached an agreement in principle with certain shipyards to reduce the purchase price of certain of our newbuilding vessels. The aggregate reduction agreed was $25.8 million and will be set off against the remaining newbuilding payments. These agreements are subject to execution of final documentation by both parties.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">5</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>
<div>&#160;</div>

<div>
<table id="d4cdc7080a53475cb345982888e4190a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; FONT-STYLE: italic; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-STYLE: normal">Sale of </font>Star Natalie <font style="FONT-STYLE: normal">and</font> Star Claudia</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">On August 6, 2015 and August 10, 2015 we entered into separate agreements with third parties to sell the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Natalie</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Claudia</font>, at market terms. The vessels were delivered to their new owners on August 26, 2015, and September 2, 2015, respectively.</div>

&#160;&#160;</div>

<div>
<table id="6e70aa01e19044c1ada64904dda768c2" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Sale of <font style="FONT-STYLE: italic">Maiden Voyage <font style="FONT-STYLE: normal">and agreement to charter back the vessel for two years</font></font></div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">On May 28, 2015, we entered into an agreement with a third party to sell the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maiden Voyage</font>, at market terms. We have agreed to charter back the vessel for a period of two years. The vessel was delivered to its new owners on September 15, 2015, and we became the charterers of the vessel on the same date.</div>

<div>&#160;</div>

<div>
<table id="b5e7792404c84b938068acb1d785fbee" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: left">
<div>Vessel deliveries</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify">
<table id="233487b374a04537a70e869cb291b1d4" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 28.35pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 19.85pt; VERTICAL-ALIGN: top; align: right">(i)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On July 15, 2015, we took delivery of the Newcastlemax vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Goliath</font> (ex HN 167) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maharaj </font>(ex HN 184). The delivery instalments of $75.4 million were partially financed by $60.6 million drawn under the DNB-CEXIM $227.5 million term loan facility, and the remaining amount was financed by existing cash.</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="d55e3a32d1d44cfdb3050241c48385bc" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 28.35pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 19.85pt; VERTICAL-ALIGN: top; align: right">(ii)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On July 22, 2015, we took delivery of the Ultramax vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Aquarius</font> (ex-HN 5040). The delivery instalment of $20.4 million was partially financed by $15.2 million drawn under the NIBC $32.0 million term loan facility. The remaining amount was financed by existing cash.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="687ec7f72b6f416798dae692e4d0c234" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 28.1pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20.15pt; VERTICAL-ALIGN: top; align: right">(iii)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On August 7, 2015, we took delivery of the Ultramax vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Pisces</font> (ex-HN 5043). The delivery instalment of $20.4 million was partially financed by $15.2 million drawn under the NIBC $32.0 million term loan facility and the remaining amount was financed by existing cash.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">A description of the above facilities is included in our annual report for the year ended December 31, 2014, on form 20-F filed with the Commission on April 8, 2015.</div>

<div>
<table id="0939875f90944bc9b6b80b7078901e0d" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Financing of HN 1343 (tbn Star Leo)</div>
</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: justify; MARGIN-LEFT: 27pt">On August 31, 2015, we entered into a 10-year lease arrangement with CSSC to finance up to $40.0 million for the delivery installment of the HN 1343 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Leo</font>).</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; MARGIN-LEFT: 28.35pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating Results</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Factors Affecting Our Results of Operations</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">As of August 31, 2015, we had 61 of our vessels employed in the spot market, under charter agreements of short duration, and nine vessels on medium- to long-term time charters, scheduled to expire from January 2016 to September&#160;2016.&#160; Under time charters, the charterer typically pays us a fixed daily charter hire rate and bears all voyage expenses, including the cost of bunkers (fuel oil), port and canal charges.&#160; Under voyage charters, we pay voyage expenses such as port, canal and fuel costs.&#160; Under all charters, we pay for the chartered vessel's operating expenses, including the cost of crewing, insuring, repairing and maintaining the vessel, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, and commissions to affiliated and unaffiliated ship brokers and to in-house brokers associated with the charterer for the arrangement of the relevant charter. In addition, we also pay the dry docking costs related to our vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">The following table reflects certain operating data of our fleet, including our ownership days, voyage days, and fleet utilization, which we believe are important measures for analyzing trends in our results of operations, for the periods indicated:</div>

<div>
<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">6</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div>
<table id="1aa6442a72ae43058f99abc09ce9baf7" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">(TCE rates expressed in U.S.&#160; dollars)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30, 2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30, 2015</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Average number of vessels (1)<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">16.4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">67.5</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Number of vessels in operation (as of the last day of the periods reported)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">17.0</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">69.0</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Average age of operational fleet (in years) (2)<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9.2</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7.9</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">Ownership days (3)&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2,969</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,210</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">Available days (4)&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2,939</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">11,953</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Voyage days for fleet (5)&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2,716</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9,943</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Fleet utilization (6)&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">92.4%</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">83.2%</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">Daily time charter equivalent rate ("TCE") (7)&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">14,172</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9.27%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7,806</div>
</td>
<td style="WIDTH: 1px; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap"></td>
</tr>
</table>

<div><br />
<hr style="HEIGHT: auto; WIDTH: 10%; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 0px; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" noshade="noshade" />
</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="b18c0046ee9d4af386b3b134ac27b956" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Average number of vessels is the number of vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="ff2deb2f933e4cb3b2f79d8391a36344" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Average age of operational fleet is calculated as of June&#160;30, 2014 and 2015, respectively.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="124838abbe8c4f049f2a5e6bf80d1b28" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Ownership days are the total calendar days each vessel in the fleet was owned by us for the relevant period.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="195078b039504e89bbf3fac95d877941" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Available days for the fleet are the ownership days after subtracting for off-hire days as a result of major repairs, dry docking or special or intermediate surveys.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="f0d800ba1c024c618360fd4a65a43df1" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(5)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Voyage days are the total days the vessels were in our possession for the relevant period after subtracting all off-hire days incurred for any reason (including off-hire for dry docking, major repairs, special or intermediate surveys).</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="5ed9dd4e6902473a99af3722494e76fa" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(6)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Fleet utilization is calculated by dividing voyage days by available days for the relevant period.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="c6937b87908745bfbc1a377782081576" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(7)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Please see the reconciliation of the TCE rate on the next page.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Time Charter Equivalent (TCE) Rate</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">Time charter equivalent rate (the "TCE rate"), is a measure of the average daily revenue performance of a vessel on a per voyage basis.&#160; Our method of calculating TCE rate is determined by dividing voyage revenues (net of voyage expenses and amortization of fair value of above or below market acquired time charter agreements) by voyage days for the relevant time period. Voyage expenses primarily consist of port, canal and fuel costs that are unique to a particular voyage, which would otherwise be paid by the charterer under a time charter contract, as well as commissions. TCE rate is a standard shipping industry performance measure used primarily to compare period to period changes in a shipping company's performance despite changes in the mix of charter types (i.e., spot charters, time charters and bareboat charters) under which the vessels may be employed between the periods and because we believe TCE rate is useful information for investors in evaluating our performance. We also report TCE revenues, a non-GAAP measure, since our management believes it provides additional meaningful information in conjunction with voyage revenues, the most directly comparable U.S. GAAP measure, because it assists our management in making decisions regarding the deployment and use of our vessels and in evaluating their financial performance. Our calculation of TCE rate and revenue, however, may not be comparable to those reported by other companies.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">The following table reflects the calculation of our TCE rates and reconciliation of TCE revenue to voyage revenue as reflected in the unaudited interim condensed consolidated statement of operations:</div>

<table id="01c64e24bf0f41f18c091c034016c2d9" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">(In thousands of U.S.&#160; Dollars, except as otherwise stated)</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30, 2014</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30, 2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Voyage revenues<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">43,064</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">101,182</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Less:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Voyage expenses<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(7,721</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(30,637</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Plus:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Amortization of fair value of below/above market acquired time</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">charter agreements<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,149</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7,071</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Time charter equivalent revenues<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">38,492</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">77,616</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Fleet Voyage days<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2,716</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9,943</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Daily time charter equivalent (TCE) rate (in U.S.&#160; Dollars)<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">14,172</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7,806</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">7</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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<div style="FONT-WEIGHT: bold">Voyage Revenues</div>

<div style="FONT-WEIGHT: normal">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">Voyage revenues are driven primarily by the number of vessels in our fleet, the number of voyage days and the amount of daily charter hire and the level of freight rates that our vessels earn under time and voyage charters, respectively, which, in turn, are affected by a number of factors, including our decisions relating to vessel acquisitions and disposals, the amount of time that we spend positioning our vessels, the amount of time that our vessels spend in dry dock undergoing repairs, maintenance and upgrade work, the age, condition and specifications of our vessels, levels of supply and demand in the seaborne transportation market.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">Vessels operating on time charters for a certain period of time provide more predictable cash flows over that period of time, but can yield lower profit margins than vessels operating in the spot charter market during periods characterized by favorable market conditions. Vessels operating in the spot charter market generate revenues that are less predictable, but may enable us to capture increased profit margins during periods of improvements in charter rates, although we would be exposed to the risk of declining vessel rates, which may have a materially adverse impact on our financial performance. If we employ vessels on period time charters, future spot market rates may be higher or lower than the rates at which we have employed our vessels on period time charters.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Vessel Voyage Expenses</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">Voyage expenses include hire paid for port and canal charges, fuel (bunker) expenses and brokerage commissions payable to related and third parties.&#160; Our voyage expenses primarily consist of bunkers cost and commissions paid for the chartering of our vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Vessel Operating Expenses</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">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, lubricants and other miscellaneous expenses. Other factors beyond our control, some of which may affect the shipping industry in general, including for instance, developments relating to market prices for crew wages, lubricants and insurance, may also cause these expenses to increase.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Dry Docking Expenses</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">Dry docking expenses relate to regularly scheduled intermediate survey or special survey dry docking necessary to preserve the quality of our vessels as well as to comply with international shipping standards and environmental laws and regulations. Dry docking expenses can vary according to the age of the vessel, the location where the dry docking takes place, shipyard availability and the number of days the vessel is off-hire. We utilize the direct expense method, under which we expense all dry docking costs as incurred.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Depreciation</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">We depreciate our vessels on a straight-line basis over their estimated useful lives determined to be 25 years from the date of their initial delivery from the shipyard. Depreciation is calculated based on a vessel's cost less the estimated residual value.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">General and Administrative Expenses</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">We incur general and administrative expenses, including our onshore personnel related expenses, directors and executives' compensation, legal and accounting expenses.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">8</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; TEXT-ALIGN: left">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Interest and Finance Costs</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">We incur interest expense and financing costs in connection with vessel-specific debt relating to the acquisition of our vessels. We defer financing fees and expenses incurred upon entering into our credit facilities for our delivered vessels and amortize them to interest and financing costs over the term of the underlying obligation using the effective interest method.</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Gain or Loss arising from Derivatives</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">From time to time, we may take positions in freight derivatives, including freight forward agreements (the "FFAs") and freight options, with an objective to utilize those instruments as economic hedges that are 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. Upon the settlement, if the contracted charter rate is less than the average of the rates, as reported by an identified index, for the specified route and time period, the seller of the FFA is required to pay the buyer an amount equal to the difference between the contracted rate and the settlement rate, multiplied by the number of days in the specified period.&#160; Conversely, if the contracted rate is greater than the settlement rate, the buyer is required to pay the seller the settlement sum. FFAs are usually settled on a daily basis through London Clearing House (LCH), and 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. In addition, from time to time, we may enter into interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to our variable interest loans and credit facilities. Interest rate swaps are recorded in the balance sheet as either assets or liabilities, measured at their fair value, with changes in such fair value recognized in earnings, unless specific hedge accounting criteria are met.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">On August&#160;31, 2014, we designated four of our outstanding interest rate swaps (with Credit Agricole and HSH) as accounting cash flow hedges. As part of the July&#160;2014 Transactions, we acquired five swap agreements that Oceanbulk Shipping had entered during the third quarter of 2013, all of which were re-designated upon the acquisition of Oceanbulk as accounting cash flow hedges in accordance with ASC Topic 815 "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Derivatives and Hedging</font>". Changes in fair value of our outstanding swaps with Credit Agricole and HSH up to the date of their designation as cash flow hedges were reported in our earnings. For the period that an interest rate swap is designated as accounting cash flow hedge, changes in the fair value corresponding to the effective portion of these swaps are reported on our consolidated balance sheet in Accumulated Other Comprehensive Loss, with the outstanding fair value (based on Level 2 inputs of the fair value hierarchy) as of the same date being separately reflected as Derivative Assets or Liabilities within our consolidated balance sheet. Our hedge effectiveness test for the second quarter of 2015 indicated that the hedging relationship of those five interest rate swaps acquired from Oceanbulk no longer qualified for special hedge accounting. We, therefore, de-designated these swaps as accounting cash flow hedges as of April 1, 2015. Accordingly, we recorded realized and unrealized gains/losses from these swaps, from April 1, 2015, in our statement of operations under Gain / (Loss) on derivative financial instruments, net (as opposed to interest and finance costs and equity).</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Inflation</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">Inflation does not have a material effect on our expenses given current economic conditions. In the event that significant global inflationary pressures appear, these pressures would increase our operating, voyage, administrative and financing costs.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Results of Operations</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt">Six month period ended June&#160;30, 2014 compared to the six month period ended June&#160;30, 2015</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Voyage Revenues</font>:&#160; For the six month periods ended June&#160;30, 2014 and 2015, our voyage revenues were approximately $43.1 million and $101.2 million, respectively.&#160; The increase in voyage revenues was mainly due to the increase in the average number of vessels from 16.4 vessels, for the six month period ended June&#160;30, 2014, to 67.5 vessels, for the six month period ended June&#160;30, 2015, and a corresponding increase in Voyage Days, primarily as a result of the July&#160;2014 Transactions and the Excel Transactions.&#160; The TCE rate of our fleet for the six month periods ended June&#160;30, 2014 and 2015 was $14,172 and $7,806 per day, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt">&#160;</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">9</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 27pt"><strong><em>Management fee income</em></strong>:&#160; For the six month periods ended June&#160;30, 2014 and 2015, management fee income was approximately $1.9 million and $0.1 million, respectively. The decrease was due to the decrease in the average number of third party and related party vessels under management from 13.7 vessels, for the six month period ended June&#160;30, 2014, to 1.0 vessels, for the six month period ended June&#160;30, 2015. As a result of the July&#160;2014 Transactions, 11 related party vessels under our management, which were part of the Oceanbulk fleet, became part of our fleet as of July&#160;11, 2014. We, therefore, stopped receiving fees for the management of those vessels.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Voyage Expenses</font>:&#160; For the six month periods ended June&#160;30, 2014 and 2015, our voyage expenses were approximately $7.7 million and $30.6 million, respectively. The increase in voyage expenses was mainly due to the above-described increase in the average number of vessels from 16.4, for the six month period ended June&#160;30, 2014, to 67.5, for the six month period ended June&#160;30, 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Vessel Operating Expenses</font>:&#160; For the six month periods ended June&#160;30, 2014 and 2015, our vessel operating expenses were approximately $16.1 million and $57.0 million, respectively. The increase in operating expenses was mainly due to the higher average number of vessels for the six months ended June&#160;30, 2015 compared to the same period in 2014. In addition, vessel operating expenses for the six month periods ended June&#160;30, 2014 and 2015 include $0.4 million and $3.6 million, respectively, of pre-delivery and pre-joining expenses, which relate to expenses for the initial crew manning and the initial supply of stores for our vessel upon delivery. Excluding these amounts, our average daily operating expenses per vessel for the six month periods ended June&#160;30, 2014 and 2015 were $5,272 and $4,372, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Dry docking Expenses</font>: For the six month periods ended June&#160;30, 2014 and 2015, our dry docking expenses were approximately $1.3 million and $6.9 million, respectively. During the six months ended June&#160;30, 2015, 14 of our vessels underwent dry docking surveys, compared to only one vessel in the first half of 2014. The amount of our dry docking expense is highly dependent on the size, age and overall condition of the dry docked vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Depreciation</font>: For the six month periods ended June&#160;30, 2014 and 2015, depreciation was $9.8 million and $38.5 million, respectively. The increase was due to the increase in the average number of vessels from 16.4 vessels, for the six month period ended June&#160;30, 2014, to 67.5 vessels, for the six month period ended June&#160;30, 2015, the shift in the composition of our fleet to include larger and younger vessels and the depreciation of the fair values of the acquired vessels in the July&#160;2014 Transactions. The increase was partially offset by an increase in the estimated scrap rate per light weight ton from $200 to $300, which became effective as of January 1, 2015, following our management's reassessment based on the historical average demolition prices prevailing in the market.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">General and Administrative Expenses</font>: For the six month periods ended June&#160;30, 2014 and 2015, general and administrative expenses were $10.2 million and $11.2 million, respectively. General and administrative expenses for the first half of 2015 include an increase in wage expense compared to the same period in 2014, due to a 72% increase in our average number of employees. In addition, general and administrative expenses for the first half of 2014 include non-recurring transaction costs of $2.4 million related to the acquisition of Oceanbulk, Pappas Companies and the Heron Vessels, while stock based compensation expenses were $0.5 million higher in the first half of 2014 as compared to same period in 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Management fee expense: </font>Management fees for the first half of 2015 were $4.1 million. As of January 1, 2015, we engaged Ship Procurement Service ("SPS"), an unaffiliated company, to provide our fleet with certain procurement and vessel remote monitoring services at a daily fee of $295 per vessel. SPS will provide procurement and vessel remote monitoring services to a fleet of approximately 140 vessels, which in addition to our vessels also includes vessels of a product tanker company and a containership company (each of which is controlled by affiliates of Mr. Pappas and of Oaktree). We expect to benefit from lower operating expenses and dry docking costs through the economies of scale that SPS will enjoy in managing such a large fleet. In addition, three of the Excel Vessels (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Christine (tbr Star Martha), Star Pauline and Star Despoina</font>), which were acquired with attached time charter agreements, are managed by Maryville Maritime Inc., a subsidiary of Excel, until the expiration of their existing time charter agreements (two of which expired in August and one of which expires in October 2015) at a monthly fee of $17,500 per vessel. Total management fees to SPS and Maryville for the six month period ended June 30, 2015 were $3.7 million and $0.3 million, respectively, and are included in Management fees in the unaudited interim condensed statement of operations, included elsewhere herein.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Impairment Loss: </font>During the first half of 2015, we recorded an impairment loss of an aggregate of $28.8 million, or $0.17 per basic and diluted share, relating to: (i) the sale of vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Monika</font> (which was delivered to its new owners in April 2015); (ii) an agreement to sell one of our newbuilding vessels upon its delivery to us in 2016; (iii) an agreement to sell the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maiden Voyage</font> (which was delivered to its new owners in early September 2015); and (iv) the cancellation of one of our newbuilding vessels. The impairment loss includes $18.2 million, which is attributed to the write-off of the fair value adjustment recognized upon the Merger in July 2014, in connection with these vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Loss on time charter agreement termination: </font>During the first half of 2015, we recognized a $2.1 million write-off of the unamortized fair value of the above market acquired time charter of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Big</font>, due to its redelivery prior to the end of its time charter in connection with its sale and delivery to its new owners in June 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Loss on sale of vessel</font>: During the first half of 2015 we recognized an aggregate loss on a sale of vessel of $13.4 million in connection with the sale of the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Kim</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Julia</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Tatianna</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Rodon</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Big</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Mega</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Christianna</font>. Total sale proceeds from these sales were $36.1 million, of which $1.1 million was received in 2014 as an advance for the sale of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Kim</font>.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Interest and Finance Costs</font>:&#160; Interest and finance costs for the first half of 2015 and 2014 were $13.9 million and $3.1 million, respectively. The increase is attributable to the higher average balance of our outstanding indebtedness of $910.0 million for the first half of 2015, including $50.0 million under the 8.00% Senior Notes and our capital lease obligations, compared to $234.8 million for the first half of 2014. In addition, for the first half of 2015, interest and finance costs included $1.3 million of realized loss on hedging interest rate swaps. No realized interest swap loss was included in interest and finance costs for the first half of 2014, since at that time our interest rate swap agreements were not in effect. Interest and finance costs for the first half of 2015 and 2014, also included interest capitalized from general debt of $6.2 million and $1.3 million, respectively, in connection with the payments made for our newbuilding vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Loss on debt extinguishment</font>: During the first half of 2015, we recorded $1.0 million of loss on debt extinguishment, in connection with the non-cash write off of unamortized deferred finance charges due to prepayments of certain of our loan facilities.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Loss on derivative financial instruments</font>: During the six month period ended June 30, 2015, we recorded a loss on derivative financial instruments of $0.7 million, which included realized and unrealized gains/losses from swaps that were de-designated as accounting cash flow hedges from April 1, 2015 (date of de-designation). Loss on derivative financial instruments of $0.8 million during the first half of 2014 represents the non-cash loss from the mark to market valuation of four interest rate swaps outstanding as of June 30, 2014, which at that time had not been designated as cash flow hedges.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Cash Flows</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Net cash provided by operating activities for the six month period ended June&#160;30, 2014 was $10.5 million, while net cash used in operating activities for the six month period ended June&#160;30, 2015 was $9.5 million.&#160; The decrease was heavily affected by the decrease of the TCE rate from $14,172 for the six month period ended June 30, 2014 to $7,806 for the six month period ended June 30, 2015.</div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Net cash used in investing activities for the six month periods ended June 30, 2014 and 2015 was $77.0 million and $278.5 million, respectively.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt">For the first half of 2015, net cash used in investing activities consisted of:</div>

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<div>
<table id="d85ca5b335f8461a9739955a463ce43d" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 14px; VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: justify">&#8212;</div>
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<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">$190.9 million paid for advances and other capitalized expenses for our newbuilding vessels;</div>
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<div>
<table id="c93d7e642d804faeb16741969521152b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">$87.2 million paid for the four newbuilding vessels delivered (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Roberta</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Idee Fixe, Kaley </font>and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Laura</font>); which are subject to bareboat charters that we are accounting for as capital leases;</div>
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<div>
<table id="9831d856e3914e679da353306e55edf4" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: justify">&#8212;</div>
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<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">$39.5 million paid for the acquisition of the last six Excel Vessels;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt">offset by:</div>

<div>
<table id="8f3e1cb3b51947f7aeafead2f632b959" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt">&#160;</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: justify">&#8212;</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">$38.8 million of proceeds from the sale of the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Kim</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Julia</font>, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Tatianna,</font>&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Rodon, Star Big, Star Monika, Star Mega and Star Christianna;</font>&#160;and</div>
</td>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 27pt"></div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">11</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">
<table id="77e6556fbd424bb8b1449f4c25eecd18" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<div>&#160;</div>
</td>
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; TEXT-ALIGN: justify">&#8212;</div>
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<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">a net decrease of $0.2 million in restricted cash.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff"></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">
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<div style="TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt; BACKGROUND-COLOR: #ffffff">For the first half of 2014, net cash used in investing activities consisted of:</div>

<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">
<table id="57734fd3fa8c4fb5914749052c0d6d94" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$13.9 million paid for advances and other capitalized expenses for our newbuilding vessels;</td>
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<div style="TEXT-ALIGN: justify">
<table id="50f0794f3a1a448e9b2f0d4b97a79fe0" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$60.4 million paid for the acquisition of secondhand vessels and other fixed assets;</td>
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<div style="TEXT-ALIGN: justify">
<table id="5f2f562b8b9f4786925a43e44345feb8" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$0.2 million paid to acquire 33% of the total outstanding common stock of Interchart Shipping Inc, a Liberian company that acts as a chartering broker to our fleet;</td>
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<div style="TEXT-ALIGN: justify">
<table id="7fd693f0130a447bafc7d79afcb7ce72" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a net increase of $3.1 million in restricted cash; and</td>
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<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">
<table id="a0c5f5a23cf74a06b757dcf75bf0f98b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">offset by:</td>
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<div style="BACKGROUND-COLOR: #ffffff">
<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="8d418f1d042b4e2c8ab19925c98e55ee" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$0.6 million of hull and machinery insurance proceeds.</td>
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<div>Net cash provided by financing activities for the six month periods ended June 30, 2014 and 2015 was $62.6 million and $487.2 million, respectively.</div>
</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt">For the first half of 2015, net cash provided by financing activities consisted of:</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">
<table id="94f81d8b9a77418e820bbd9e581ac00c" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">proceeds from loan facilities for an aggregate of $183.5 million for the financing of: (i) delivery installments for four of our newbuilding vessels that were delivered during the period; (ii) cash consideration for the acquisition of the last six Excel Vessels; and (iii) the repayment in full of the $231.0 million Senior Secured Credit Agreement, among Unity, as Borrower, the initial lenders named therein, as Initial Lenders, affiliates of Oaktree and Angelo, Gordon &amp; Co. as Lenders, and Wilmington Trust, National Association, as Administrative Agent (the &#8220;Excel Vessel Bridge Facility&#8221;);</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="7c803f03d36f49c28b6f162354e6351b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">capital lease obligations of $82.7 million, relating to four newbuildings delivered during the period under bareboat charters;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="0e771909f58649d8bfd36c6c99f6e505" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$418.8 million of proceeds from two public offerings of our common shares, which were completed in January 2015 and May 2015, net of underwriting discounts and commissions and less offering expenses of $1.0&#160;million;</td>
</tr>
</table>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; BACKGROUND-COLOR: #ffffff">offset by:</div>

<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">
<table id="73f14c46707447efb840fb954aa2fce4" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">financing fees paid of $8.5 million; and</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: justify">
<table id="73beca7a004440868d2e4d02c8087d7d" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">an aggregate of $188.2 million paid in connection with the regular amortization of outstanding vessel financings, capital lease installments and prepayments of certain of our loan facilities.</td>
</tr>
</table>
</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 6pt">For the first half of 2014, net cash provided by financing activities consisted of:</div>
</div>

<div style="TEXT-ALIGN: justify; BACKGROUND-COLOR: #ffffff">
<table id="b286cae9ad24405ab83616d7cff5962f" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">proceeds from bank loans of $74.0 million;</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 36pt; BACKGROUND-COLOR: #ffffff">offset by:</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="TEXT-ALIGN: justify">
<table id="6da39139c63b43eab8720be77c113bb7" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">loan installment payments of $10.5 million; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="9a354fda92504d6bad5c878c8cec3d18" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">$0.9 million of financing fees paid.</td>
</tr>
</table>
</div>
</div>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Liquidity and Capital Resources</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our principal source of funds has been equity provided by our shareholders, additional debt under secured credit facilities or debt securities and operating cash flow. Our principal use of funds has been capital expenditures to grow our fleet, maintain the quality of our dry bulk carriers, comply with international shipping standards and environmental laws and regulations, fund working capital requirements, make interest and principal repayments on outstanding indebtedness and pay dividends.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our short-term liquidity requirements include servicing our debt, payment of operating costs, funding working capital requirements and maintaining cash reserves against fluctuations in operating cash flows and financing activities and paying cash dividends when we are able to do so. Sources of short-term liquidity include our revenues earned from our charters.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of June&#160;30, 2015, we had outstanding borrowings of $858.1 million, of which $93.1 million is scheduled to be repaid in the next twelve months. As of June&#160;30, 2015, cash and cash equivalents increased to $285.2 million compared to $86.0 million as of December&#160;31, 2014. Legally restricted cash, due to cash collateral requirements contained in our loan agreements, was increased to $13.8 million as of June&#160;30, 2015, compared to $14.0 million as of December&#160;31, 2014. Our working capital, which is equal to current assets minus current liabilities, including the current portion of long-term debt, was a surplus of $193.3 million as of June&#160;30, 2015, compared to a deficit of $5.8 million as of December&#160;31, 2014.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">12</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of August 31, 2015, we have agreed to sell three of our vessels, including one newbuilding vessel (see discussion above), from which we expect to receive $34.4 million of net equity proceeds. In addition, as of August 31, 2015, the total payments for our remaining 20 newbuilding vessels were expected to be $698.2 million.&#160;Up to that date,&#160;we had already paid $185.7 million for these newbuilding vessels. As of August 31, 2015, we have secured $649.2 million of debt financing for our remaining 20 newbuilding vessels. The remaining payments for the newbuilding vessels are expected to be paid from cash on hand, proceeds of vessel sales or the net proceeds of additional debt or equity financings. Based on market conditions, our growth strategy and our cash and liquidity position, we may, from time to time, seek to delay or cancel the construction of certain of our newbuilding vessels or seek to dispose of further existing vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of August 31, 2015, we had $246.7 million in cash and outstanding borrowings of $1,011.0 million, including the $50.0 million under the issued 2019 Notes and our capital lease obligations.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">We may fund possible growth through our cash balances, operating cash flow, additional debt or equity issuances, or vessel sales. Our practice has been to acquire dry bulk carriers using a combination of funds received from equity investors and bank debt secured by mortgages on our dry bulk carriers.&#160; In the event that we determine to finance a portion of the purchase price for new vessel acquisitions with debt, and if the current conditions in the credit market continue, we may not be able to secure new borrowing capacity on favorable terms or at all.&#160; Further, our stock price and the stock price of shipping companies in general have recently been volatile, and we may not be able to raise additional equity financing. Our business is capital intensive and its future success will depend on our ability to maintain a high-quality fleet through the acquisition of newer dry bulk carriers and the selective sale of older dry bulk carriers. These transactions will be principally subject to management's expectation of future market conditions as well as our ability to acquire dry bulk carriers on favorable terms.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Loan Facilities</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For information relating to our loan agreements, please see Note 9 to our audited financial statements for the year ended December&#160;31, 2014 included in our annual report on Form 20-F, which was filed with the Commission on April 8, 2015, and Notes 8 and 15 to our unaudited interim condensed consolidated financial statements for the six month period ended June&#160;30, 2015, included elsewhere herein.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Our credit facilities contain financial covenants requiring us (or the borrowing entity) to maintain various financial ratios, including:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="TEXT-ALIGN: justify">
<table id="457445d3de0e487e82d9d6ceef87f95e" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum percentage of aggregate vessel value to loans secured (security cover ratio);</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="e661f905c5e14be598f5b314a47dfb95" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum market value adjusted net worth;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="46ab0de9b4bf4cc5b18eb6aed640eb94" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a maximum ratio of total liabilities to market value adjusted total assets;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="0a8596089d294583847cf01fa52b279a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a debt service coverage ratio;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="f238a02e514b4424a73c34a4e71a94e9" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum EBITDA to interest coverage ratio;</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="beaded8d07204f1894970cebbbfe13d6" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum liquidity; and</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="1a792aaa778d49f58ce5350cca9f9f3a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">a minimum equity ratio.</td>
</tr>
</table>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">During the six months ended June 30, 2015, based on our analysis of our future liquidity position and operating performance, the dry bulk market, our anticipated vessel deliveries and the market values of our vessels, we have obtained waivers from our lenders, amending or waiving all of the foregoing types of financial covenants (other than minimum liquidity and minimum equity ratios) contained in the various facility agreements. Most of the amendments and waivers are effective through December 31, 2016, and we have agreed not to pay any dividends on our common equity through such date. As a result, as of June&#160;30, 2015, we were in compliance with the applicable financial and other covenants contained in our amended debt agreements.</div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, as of June 30, 2015, we have also assumed bareboat charters with respect to 11 newbuilding vessels being built at New Yangzijiang, CSSC and SWS, as further disclosed in Note 5 and 6 to our unaudited interim condensed consolidated financial statements for the six month period ended June&#160;30, 2015, included elsewhere herein.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">13</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Contractual Obligations</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following table sets forth our contractual obligations as of June&#160;30, 2015:</div>

<table id="7e0f108c0fad41ffb6fd92579aea14c2" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="26">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Twelve month periods ending June 30,<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>(in thousands of U.S. Dollars)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2019</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2020</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2021 and thereafter</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Long term debt (1)<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">858,068</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">93,128</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">140,554</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">89,780</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">203,411</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">215,902</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">115,293</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Interest on long term debt&#160;(2)<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">107,664</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">31,755</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">25,543</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">22,250</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">17,560</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">6,894</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,662</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Shipbuilding contracts and agreed extra costs&#160;(3)<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">577,868</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">500,681</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">77,187</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Capital lease obligations of delivered vessels (4)<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">81,680</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,380</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,610</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,830</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">6,030</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9,360</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">52,470</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 33px">
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Interest on capital lease obligation of delivered vessels (4)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">24,198</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,260</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,030</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,810</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,542</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,010</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">5,546</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Bareboat capital leases &#8211; upfront hire &amp; handling fees of newbuilding vessels (5)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">13,613</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,269</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,344</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Bareboat commitments charterhire of newbuilding vessels (6)<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">364,854</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,803</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">26,123</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">27,219</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">27,151</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">27,488</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">252,070</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; WHITE-SPACE: nowrap; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 23%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Total<font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2,027,945</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">651,276</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">279,391</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">147,889</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">257,694</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">262,654</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">429,041</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>
<hr style="HEIGHT: auto; WIDTH: 10%; COLOR: #000000; TEXT-ALIGN: left; MARGIN-LEFT: 0px; BACKGROUND-COLOR: #000000; MARGIN-RIGHT: auto" noshade="noshade" />
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
<table id="d79d7018ad0c452998b28a866b853b02" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The outstanding balance of our long-term debt with commercial banks at June&#160;30, 2015 was $858.1 million as further discussed in Note 8 to our unaudited interim condensed consolidated financial statements for the six-month period ended June&#160;30, 2015, included elsewhere herein.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="3ade475a9e1e4317ab77b13bac0c011e" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Our long-term debt outstanding as of June&#160;30, 2015 bears interest at a variable rate of LIBOR plus a margin.&#160; The calculation of interest payments has been made assuming interest rates based on the three-month LIBOR as of June&#160;30, 2015 (i.e. 0.2832%) and our various applicable margin rates under our debt as of June&#160;30, 2015.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="58aa87f641764b739354a84d4624e2ee" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The amounts presented in the contractual obligations table represent our remaining obligations as of June&#160;30, 2015 with respect to the pipeline of our newbuilding program, excluding those applicable under the bareboat lease agreements classified as capital leases, which are discussed under footnote (5) below, giving effect to the renegotiated prices and delivery dates of certain of our newbuilding vessels disclosed in Notes 15(a) and (b) to our unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2015, included elswhere herein.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="89123e4956b64e15bf104dd47170bb7b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The amounts presented in the contractual obligations table as "Capital lease obligations of delivered vessels" represent the present value of our commitments for minimum payments under the bareboat lease arrangements with respect to vessels delivered to us up to June 30, 2015, as further discussed in Note 5 to our unaudited interim condensed consolidated financial statements for the six-month period ended June&#160;30, 2015, included elsewhere herein. Interest on these commitments is also presented in the historical contractual obligations table as "Interest on capital lease obligation of delivered vessels".</td>
</tr>
</table>
</div>

<div>
<table id="6cb550c253e34e5d8d2dc985dbd30cad" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 9pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">(5)&#160;&#160;&#160; </div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The&#160;amounts represent the Company's commitments under the bareboat lease arrangements for the upfront hire and handling fees for those vessels under construction as of June 30, 2015.</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>
<table id="415eda19f2ec4c8d907a80159c32d8e0" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(6)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">The amounts represent the Company's commitments under the bareboat lease arrangements for the charter hire for those vessels, under construction as of June 30, 2015. The bareboat charter hire is comprised of a fixed and a variable portion.&#160; The variable portion is based on the 6-month Libor rate of 0.44485% as of June 30, 2015 (please refer to Note 6 to our unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2015, included elsewhere herein).</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">14</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Significant Accounting Policies and Critical Accounting Policies</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">There have been no material changes to our significant accounting policies since December&#160;31, 2014 other than those reflected in our unaudited interim condensed consolidated financial statements for the six-month period ended June 30, 2015 included elsewhere herein.&#160; For a description of our critical accounting policies and all of our significant accounting policies, see Note 2 to our audited financial statements and "Item 5 &#8212; Operating and Financial Review and Prospects," included in our Annual Report on Form 20-F for the year ended December&#160;31, 2014, which was filed with the Commission on April 8, 2015 and Note 2 to the unaudited interim condensed consolidated financial statements for the six month period ended June&#160;30, 2015, included elsewhere in this report.</div>

<div style="MARGIN-BOTTOM: 12pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
&#160;</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always; TEXT-ALIGN: center"><font id="DSPFPageNumber">15</font>

<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>
</div>

<div>&#160;</div>

<div>
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">STAR BULK CARRIERS CORP.<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>INDEX TO UNAUDITED INTERIM CONDENSED CONSOLIDATED<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>FINANCIAL STATEMENTS</div>

<div>
<table id="a2256101fded40cc9adfaab91ac9edae" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="2" border="0">
<tr style="HEIGHT: 12px">
<td style="WIDTH: 90.42%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><a href="#ConsolidatedBalanceSheets">Consolidated Balance Sheets as of December 31, 2014 and June 30, 2015 (unaudited)</a></div>
</td>
<td style="WIDTH: 9.58%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-2</div>
</td>
</tr>

<tr>
<td style="WIDTH: 90.42%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><a href="#UnauditedInterimCondensed">Unaudited Interim Condensed Consolidated Statements of Operations for the six month periods ended June 30, 2014 and 2015</a></div>
</td>
<td style="WIDTH: 9.58%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-3</div>
</td>
</tr>

<tr>
<td style="WIDTH: 90.42%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><a href="#CompIncome">Unaudited Interim Condensed Consolidated Statements of Comprehensive Income/(Loss) for the six month periods ended June 30, 2014 and 2015</a></div>
</td>
<td style="WIDTH: 9.58%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-4</div>
</td>
</tr>

<tr>
<td style="WIDTH: 90.42%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><a href="#Equity">Unaudited Interim Condensed Consolidated Statement of Stockholders&#8217; Equity for the six month periods ended June 30, 2014 and 2015</a></div>
</td>
<td style="WIDTH: 9.58%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-5</div>
</td>
</tr>

<tr>
<td style="WIDTH: 90.42%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><a href="#cashflows">Unaudited Interim Condensed Consolidated Statements of Cash Flows for the six month periods ended June 30, 2014 and 2015</a></div>
</td>
<td style="WIDTH: 9.58%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-6</div>
</td>
</tr>

<tr>
<td style="WIDTH: 90.42%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><a href="#NotestoUnauditedInterimCo">Notes to Unaudited Interim Condensed Consolidated Financial Statements</a><font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 9.58%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right">F-7</div>
</td>
</tr>
</table>
</div>

<div><br />
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div><br />
&#160;</div>

<div><br />
</div>

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<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><a id="ConsolidatedBalanceSheets" name="ConsolidatedBalanceSheets"><!--Anchor--></a>Consolidated Balance Sheets</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">As of December 31, 2014 and June 30, 2015 (unaudited)</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</div>

<div>
<table id="5cc29f37db734911b028c5929139ddbb" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CURRENT ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Cash and cash equivalents</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>86,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>285,203</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Restricted cash, current (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>3,352</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,769</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Trade accounts receivable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>24,765</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>18,316</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Inventories (Note 4)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>14,368</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>16,691</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Due from managers</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>81</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>81</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Due from related parties (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>245</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>671</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Other current assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,269</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,524</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Prepaid expenses and other receivables</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>4,350</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>5,164</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Current Assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>134,430</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>330,419</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">FIXED ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Advances for vessels under construction and acquisition of vessels (Note 6)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>454,612</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>337,671</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 15px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Vessels and other fixed assets, net (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,441,851</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,772,664</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Fixed Assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,896,463</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,110,335</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">OTHER NON-CURRENT ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Long term Investment (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>634</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>847</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Deferred finance charges, net</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>8,029</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>13,002</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Restricted cash, non-current (Note 8 )</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>10,620</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>11,020</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Fair value of above market acquired time charter (Note 7)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>11,908</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,723</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">TOTAL ASSETS</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">2,062,084</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">2,468,346</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">LIABILITIES &amp; STOCKHOLDERS' EQUITY</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">CURRENT LIABILITIES</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Current portion of long term debt (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>88,317</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>93,128</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Lease commitments short term (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>4,380</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Excel Vessel Bridge Facility from related parties, current portion (Note 3 and Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>8,168</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Accounts payable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>18,487</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>10,898</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Due to buyers (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,100</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Due to related parties (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,166</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>900</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Due to managers</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>4,539</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Accrued liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>13,738</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>14,171</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Derivative liability, current (Note 14)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>5,722</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>7,247</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Deferred revenue</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,500</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,863</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Current Liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>140,198</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>137,126</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">NON-CURRENT LIABILITIES</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">8.00% 2019 Notes (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>50,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>50,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Long term debt (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>667,315</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>714,940</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Lease commitments long term (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>77,300</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Excel Vessel Bridge Facility from related parties, non current portion (Note 3 and Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>47,993</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Derivative liability, non current (Note 14)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,010</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>3,653</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Other non-current liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>266</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>300</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">TOTAL LIABILITIES</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>907,782</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>983,319</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">COMMITMENTS &amp; CONTINGENCIES (Note 13)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">STOCKHOLDERS' EQUITY</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at </div>

<div style="TEXT-ALIGN: left">December 31, 2014 and June 30, 2015 (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Common Shares, $0.01 par value, 300,000,000 shares authorized; 109,426,236 and 218,934,541 shares </div>

<div style="TEXT-ALIGN: left">issued and outstanding at December 31, 2014 and June 30, 2015, respectively (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,094</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,189</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Additional paid in capital&#160; (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,567,713</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>2,005,649</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Accumulated other comprehensive loss (Note 14)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(378</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,487</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Accumulated deficit</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(414,127</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(519,324</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 1%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total Stockholders' Equity</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,154,302</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,485,027</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">2,062,084</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">2,468,346</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-2</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><a id="UnauditedInterimCondensed" name="UnauditedInterimCondensed"><!--Anchor--></a>Unaudited Interim Condensed Consolidated Statements of Operations</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six month periods ended June 30, 2014 and 2015</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div>&#160;</div>

<div>&#160;</div>

<div>
<table id="aa30cb3046224769a15b159b20b93f52" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">Six months ended June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Revenues:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Voyage revenues</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>43,064</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>101,182</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Management fee income (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,861</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>136</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>44,925</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>101,318</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Voyage expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>7,721</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>30,637</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Vessel operating expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>16,062</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>56,964</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Dry docking expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,264</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>6,945</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Depreciation</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>9,777</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>38,519</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Management fees (Note 3 and Note 10 )</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>4,063</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">General and administrative expenses</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>10,215</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>11,153</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Vessel impairment loss (Note 5 and Note 6)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>28,829</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Loss on time charter agreement termination (Note 7)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>2,114</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Other operational loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>94</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Other operational gain</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(407</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(590</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Bad debt expense</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>215</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Loss on sale of vessel (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>13,389</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>44,941</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>192,023</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Operating&#160; income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(16</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(90,705</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Other Income/ (Expenses):</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Interest and finance costs (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,057</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(13,871</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Interest and other income/(loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>21</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>828</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Gain / (Loss) on derivative financial instrument, net (Note 14)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(819</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(688</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Loss on debt extinguishment (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(974</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Total other expenses, net</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,855</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(14,705</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">INCOME/(LOSS) BEFORE EQUITY IN INCOME OF INVESTEE</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,871</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(105,410</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Equity in income of investee</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>213</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Net&#160; income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,870</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Earnings / (Loss) per share, basic and diluted&#160; (Note 11)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(0.13</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(0.61</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Weighted average number of shares outstanding, basic and diluted&#160; (Note 11)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>28,973,621</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>171,736,658</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-3</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><a id="CompIncome" name="CompIncome"><!--Anchor--></a>Unaudited Interim Condensed Consolidated Statements of Comprehensive Income</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six month periods ended June 30, 2014 and 2015</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>(Expressed in thousands of U.S. dollars except for share and per share data)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div>&#160;</div>

<div>
<table id="b1b5695800ad4fb1bc4c2cbf9dfc0b6a" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">Six months ended June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Net income/ (loss):</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,870</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(105,197</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Other comprehensive loss:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-STYLE: italic; TEXT-ALIGN: left">Unrealized losses from cash flow hedges:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Unrealized losses from cash flow hedges during the </div>

<div style="TEXT-ALIGN: left">period before reclassifications</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(4,827</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-STYLE: italic">Less</font>:&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Reclassification adjustments of losses from cash flow hedges </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">included in net loss during the period</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,718</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Other comprehensive loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,109</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 70%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Comprehensive income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,870</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 11%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(108,306</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>

<div>&#160;</div>
</div>

<div>&#160;</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div><br />
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-4</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><a id="Equity" name="Equity"><!--Anchor--></a>Unaudited Interim Condensed Consolidated Statements of Stockholders&#8217; Equity</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six month periods ended June 30, 2014 and 2015</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data)</font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</div>

<div>
<table id="2b0b7ed9073b44c88d02f3ec77412b27" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">Common Shares</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 44px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-WEIGHT: bold"># of Shares</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-WEIGHT: bold">Par </div>

<div style="FONT-WEIGHT: bold">Value</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-WEIGHT: bold">Additional </div>

<div style="FONT-WEIGHT: bold">Paid-in </div>

<div style="FONT-WEIGHT: bold">Capital</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-WEIGHT: bold">Other</div>

<div style="FONT-WEIGHT: bold">Comprehensive </div>

<div style="FONT-WEIGHT: bold">loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><font style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Accumulated </font></div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">deficit</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-WEIGHT: bold">Total </div>

<div style="FONT-WEIGHT: bold">Stockholders' </div>

<div style="FONT-WEIGHT: bold">Equity</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">BALANCE, January 1, 2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">29,059,671</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">291</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">668,219</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(402,404</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">266,106</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Net&#160; income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,870</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,870</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Other comprehensive loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Issuance of common shares - Acquisition of 33% of Interchart (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>22,598</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>328</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>328</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 12)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>411,500</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>4</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,899</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,903</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">BALANCE, June 30, 2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">29,493,769</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">295</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">670,446</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(406,274</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">264,467</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">BALANCE, January 1, 2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">109,426,236</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">1,094</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">1,567,713</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(378</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(414,127</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">1,154,302</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Net income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(105,197</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(105,197</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Other comprehensive loss</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,109</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,109</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Amortization of stock-based compensation (Note 12)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,407</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,407</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Issuance of common shares (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>105,250,418</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,053</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>416,744</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>417,797</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Shares for commission to Oceanbulk Maritime (Note 3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>519</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>519</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Issuance of common shares for Excel Transactions (Note 1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>4,257,887</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>42</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>19,266</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>19,308</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 30%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">BALANCE, June 30, 2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">218,934,541</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">2,189</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">2,005,649</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(3,487</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">(519,324</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 8%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold">1,485,027</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>

<div>&#160;</div>
</div>

<div>&#160;</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-5</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><a id="cashflows" name="cashflows"><!--Anchor--></a>Unaudited Interim Condensed Consolidated Statements of Cash Flows</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">For the six month periods ended June 30, 2014 and 2015</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</font></div>

<div style="MARGIN-BOTTOM: 12pt">&#160;</div>

<div>
<table id="d620b679de0540e5ab3c573b74112c9d" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">Six months ended June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash Flows from Operating Activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="TEXT-ALIGN: left"></div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Net income / (loss)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(3,870</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(105,197</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Adjustments to reconcile net loss to net cash provided by/(used in) operating </div>

<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Depreciation</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>9,777</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>38,519</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Amortization of&#160; fair value of above market acquired time charters (Note 7)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>3,149</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>7,071</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Amortization of deferred finance charges (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>284</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>1,199</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Loss on debt extinguishment (Note 8)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>974</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Loss on time charter agreement termination (Note 7)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>2,114</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Vessel impairment loss (Note 5 and Note 6)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>28,829</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Loss on sale of vessel (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>13,389</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Stock-based compensation (Note 12)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,903</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>1,407</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Change in fair value of derivatives</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>819</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>59</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Other non-cash charges</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>215</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>34</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Gain from insurance claim</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(237</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="COLOR: #000000">-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Equity of income of investee</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(213</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Changes in operating assets and liabilities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">(Increase)/Decrease in:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Trade accounts receivable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(1,223</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>6,449</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Inventories</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,501</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(2,323</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Prepaid expenses and other current assets</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(602</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(1,069</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Due from related parties</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(1,467</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(426</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Increase/(Decrease) in:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Accounts payable</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,060</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(3,814</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Due to related parties</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>917</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(1,266</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Accrued liabilities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,207</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>863</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Due to managers</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>4,539</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Deferred revenue</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>54</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(637</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Net cash provided by/(used in) Operating Activities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>10,485</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(9,499</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash Flows from Investing Activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Advances for vessels under construction and acquisition of vessels and other assets (Note 5 and Note 6)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(74,267</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(317,538</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Long-term investment</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(200</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Cash proceeds from vessel sale (Note 5)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>38,831</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Hull and Machinery Insurance proceeds</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>550</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Decrease in restricted cash</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>22</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>3,487</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Increase in restricted cash</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(4,102</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(3,304</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Net cash provided by/(used in) Investing Activities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(77,997</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(278,524</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash Flows from Financing Activities:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Proceeds from bank loans</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>74,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>266,181</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Loan prepayments and repayments</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(10,452</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(188,226</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Financing fees paid</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(914</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(8,526</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Proceeds from issuance of common shares (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>418,771</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Offering expenses paid related to the issuance of common shares (Note 9)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(974</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Net cash&#160; provided by/(used in) Financing Activities</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>62,634</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>487,226</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Net&#160; (decrease) / increase in cash and cash equivalents</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(4,878</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>199,203</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash and cash equivalents at beginning of period</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>44,298</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>86,000</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: left">Cash and cash equivalents at end of the period</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>39,420</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>285,203</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left">Cash paid during the period for:</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-LEFT: 2%; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left">Interest</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>2,540</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>19,844</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div style="FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The accompanying condensed notes are an integral part of these unaudited interim condensed consolidated financial statements.</div>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-6</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><a id="NotestoUnauditedInterimCo" name="NotestoUnauditedInterimCo"><!--Anchor--></a>Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>

<div>
<table id="ac9d464f7935423099947a8666d03488" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">1.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Basis of Presentation and General Information:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Star Bulk Carriers Corp. (&#8220;Star Bulk&#8221;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk was incorporated in the Marshall Islands on December&#160;13, 2006 and maintains executive offices in Athens, Greece.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Star Bulk&#8217;s common shares started trading on the NASDAQ Global Select Market on December&#160;3, 2007, under the ticker symbol &#8220;SBLK.&#8221; The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &#8220;Company,&#8221; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &#8220;SEC&#8221;) for interim financial information.&#160; Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation of the Company&#8217;s financial position, results of operations and cash flows for the periods presented.&#160; Operating results for the six months ended June 30, 2015, are not necessarily indicative of the results that might be expected for the fiscal year ending December&#160;31, 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The unaudited interim condensed consolidated financial statements presented in this report should be read in conjunction with the Company&#8217;s Annual Report on Form 20-F for the year ended December 31, 2014, filed with the SEC on April 8, 2015.&#160; The balance sheet as of December 31, 2014 has been derived from the audited financial statements as of that date, but, pursuant to the requirements for interim financial information, does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">The 2014 Transactions</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On July&#160;11, 2014, the Company, as part of its growth strategy, completed a transaction that resulted in the acquisition of Oceanbulk Shipping LLC (&#8220;Oceanbulk Shipping&#8221;) and Oceanbulk Carriers LLC (&#8220;Oceanbulk Carriers&#8221;, and, together with Oceanbulk Shipping, &#8220;Oceanbulk&#8221;) from Oaktree Dry Bulk Holdings LLC (including affiliated funds, &#8220;Oaktree&#8221;) and Millennia Holdings LLC (&#8220;Millennia Holdings&#8221;, and together with Oaktree, the &#8220;Sellers&#8221;) through the merger of the Company&#8217;s wholly-owned subsidiaries, Star Synergy LLC and Star Omas LLC, into Oceanbulk&#8217;s holding companies (the &#8220;Merger&#8221;).&#160; At the time of the Merger, Oceanbulk owned and operated a fleet of 12 dry bulk carrier vessels and owned contracts for the construction of 25 newbuilding fuel-efficient Eco-type dry bulk vessels at shipyards in Japan and China.&#160; Millennia Holdings is an entity that is affiliated with the family of Mr.&#160;Petros Pappas, who became the Company&#8217;s Chief Executive Officer in connection with the Merger.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The agreement governing the Merger also provided for the acquisition (the &#8220;Heron Transaction&#8221;) by the Company of two Kamsarmax vessels (the &#8220;Heron Vessels&#8221;), from Heron Ventures Ltd.&#160; (&#8220;Heron&#8221;), a limited liability company incorporated in Malta, which was a joint venture between Oceanbulk Shipping and a third party. The Heron Transaction has been reflected in the Company&#8217;s consolidated financial statements as a purchase of assets.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, concurrently with the Merger, the Company completed a transaction (the &#8220;Pappas Transaction&#8221;), in which it acquired all of the issued and outstanding shares of Dioriga Shipping Co. and Positive Shipping Company (collectively, the &#8220;Pappas Companies&#8221;), which were entities owned and controlled by affiliates of the family of Mr.&#160;Pappas.&#160; At the time of the Merger, the Pappas Companies owned and operated a dry bulk carrier vessel (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Tsu Ebisu</font>) and had a contract for the construction of a newbuilding dry bulk carrier vessel, HN 5016 (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Indomitable</font>), which was delivered in January&#160;2015. The Merger, the Heron Transaction and the Pappas Transaction are referred to, together, as the &#8220;July&#160;2014 Transactions&#8221;.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-7</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A total of 54,104,200 of the Company&#8217;s common shares were issued to the various selling parties in the July 2014 Transactions, consisting of 48,395,766 common shares consideration for the Merger with Oceanbulk, 3,592,728 common shares consideration for the acquisition of Pappas Companies and 2,115,706 common shares partial consideration for the acquisition of the Heron Vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The results of operations of Oceanbulk and the Pappas Companies have been reflected in the Company&#8217;s consolidated statement of operations since the acquisition date (July 11, 2014).&#160; As a result, no financial information of Oceanbulk and the Pappas Companies are included in the accompanying statement of operations for the period ended June 30, 2014.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following unaudited pro forma consolidated financial information reflects the results of operations for the six month period ended June 30, 2014, as if the Merger and the Pappas Transaction had been consummated on January&#160;1, 2013 and after giving effect to purchase accounting adjustments, including the nonrecurring pro forma reversal of:&#160; (i)&#160; all acquisition-related transaction costs of $2,363 incurred in the six month period ended June 30, 2014 and (ii)&#160;the interest expense of $1,816 incurred in the six month period ended June 30, 2014, with respect to the convertible loan owed by Oceanbulk to its members, which was converted into equity because of the Merger, as if the conversion had taken place on January&#160;1, 2013.&#160; These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what operating results would have been had the Merger and the Pappas Transaction actually taken place on January&#160;1, 2013. In addition, these results are not intended to be a projection of future results and do not reflect any synergies that might be achieved from the combined operations:</div>

<div>
<table id="72285a8fc708441d869b960b74d66054" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 80%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">ended June 30,&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="WIDTH: 80%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Pro forma revenues</font><font style="FONT-SIZE: 5pt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font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">73,448</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 80%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Pro forma operating loss</font><font style="FONT-SIZE: 5pt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font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(4,637</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="WIDTH: 80%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Pro forma net loss</font><font style="FONT-SIZE: 5pt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font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(12,270</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 80%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Pro forma loss per share, basic and diluted</font><font style="FONT-SIZE: 5pt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font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 11%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(0.15</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, on August&#160;19, 2014, the Company entered into definitive agreements with Excel Maritime Carriers Ltd.&#160; (&#8220;Excel&#8221;) pursuant to which (the &#8220;Excel Transactions&#8221;) the Company acquired 34 operating dry bulk vessels, consisting of six Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and two Handymax vessels (the &#8220;Excel Vessels&#8221;) for an aggregate consideration of 29,917,312 of its common shares (the &#8220;Excel Vessel Share Consideration&#8221;) and $288,391 in cash. The last Excel Vessel was delivered to the Company in April 2015. The delivery of each Excel Vessel has been reflected in the Company&#8217;s financial statements as a purchase of assets.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Excel Transactions along with the July&#160;2014 Transactions are herein collectively referred to as the &#8220;2014 Transactions&#8221;.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-8</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Subsidiaries, Owned Vessels and Newbuilding Contracts</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Below is the list of Star Bulk&#8217;s subsidiaries, all of which are wholly owned, as of June 30, 2015:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Vessels in operation at June 30, 2015</div>

<div>
<table id="b585d5dfb9c24b9e88d84837f4808176" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 4%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">&#160;</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 12%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Date</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle"></td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">&#160;</div>
</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="FONT-SIZE: 10pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Wholly Owned Subsidiaries</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Vessel Name</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">DWT</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Delivered to Star Bulk</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Year Built</div>
</td>
</tr>

<tr style="HEIGHT: 11px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Pearl Shiptrade LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Gargantua (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">209,529</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">April 2, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">L.A. Cape Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Deep Blue (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">182,608</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">May 27, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Cape Ocean Maritime LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Leviathan (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">182,511</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;19, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2014</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">4</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Cape Horizon Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Peloreus (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">182,496</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;22, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2014</div>
</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Positive Shipping Company</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Indomitable (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">182,476</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 8, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">6</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">OOCAPE1 Holdings LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Obelix (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">181,433</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">7</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Sandra Shipco LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left">Star Pauline (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,274</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2008</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">8</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Christine Shipco LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: left">Christine (tbr Star Martha) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,274</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 31, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2010</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">9</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Pacific Cape Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Pantagruel (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,181</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">10</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Borealis LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Borealis</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">179,678</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;9, 2011</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">11</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Polaris LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Polaris</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">179,600</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November&#160;14, 2011</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">12</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident V LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Angie (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">177,931</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2007</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">13</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Sky Cape Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Big Fish (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">177,643</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Global Cape Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Kymopolia (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">176,990</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Sea Cape Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Big Bang (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">174,109</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2007</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">16</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Aurora LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Aurora</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">171,199</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;8, 2010</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2000</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">17</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Lowlands Beilun Shipco LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Despoina (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">170,162</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1999</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">18</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident VII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Eleonora (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">164,218</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 3, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2001</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">19</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident VI LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Monisha (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">164,218</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February 2, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2001</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Nautical Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Amami (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">98,681</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">21</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Majestic Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Madredeus (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">98,681</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">22</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Sirius LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Sirius</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">98,681</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March&#160;7, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr style="HEIGHT: 12px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">23</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Vega LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Vega</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">98,681</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February&#160;13, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">24</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Alta II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Angelina (3)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,981</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 5, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Alta I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Gwyneth (3)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,790</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 5, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">26</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident&#160;I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Kamila </font><font style="FONT-STYLE: italic">(2)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,769</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;3, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2005</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">27</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Grain Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Pendulum (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,619</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">28</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XIX LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Maria (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,598</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November 5, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2007</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">29</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Markella (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,594</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2007</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">30</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident IX LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Danai (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,574</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 21, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">31</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XI LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Georgia (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,298</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 14, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">32</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident VIII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Sophia (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,269</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 31, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2007</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">33</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XVI LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Mariella (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,266</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;19, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">34</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XIV LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Moira (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,257</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November 19, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">35</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XVIII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Nina (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,224</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 5, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">36</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident X LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Renee (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,221</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 18, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">37</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident&#160;II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Nasia&#160; (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,220</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">August&#160;29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">38</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XIII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Laura (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,209</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 8, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">39</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XV LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Jennifer (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,209</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">April 15, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">40</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XVII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Helena (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">82,187</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December 29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">41</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Mineral Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Mercurial Virgo (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">81,545</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2013</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">42</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">KMSRX Holdings LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Magnum Opus (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">81,022</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2014</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">43</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Dioriga Shipping Co.</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Tsu Ebisu (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">81,001</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2014</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">44</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident&#160;III LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Iris (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">76,466</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;8, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-9</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>
</div>
</div>

<div>&#160;</div>

<table id="de61aa57b3284cb2a8ef371b69bddb58" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">45</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident IV LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Aline (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">76,429</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;4, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">46</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XX LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Emily (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">76,417</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;16, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">47</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Natalie&#160; (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">73,798</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">August&#160;29, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1998</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">48</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXIII LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Nicole (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">73,751</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 14, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1997</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">49</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXV LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Vanessa (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">72,493</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November 7, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1999</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">50</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXVI LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Claudia (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">71,662</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 20, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1997</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">51</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Spring Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Idee Fixe (1)(4)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">63,458</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March 25, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">52</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Orion Maritime LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Roberta (1)(4)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">63,426</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March 31, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">53</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Success Maritime LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Laura (1)(4)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">63,399</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">April 7, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">54</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultra Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Kaley (1)(4)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">63,283</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">June 26, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">55</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Challenger&#160;I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Challenger</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">61,462</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December&#160;12, 2013</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2012</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">56</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Challenger&#160;II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Fighter</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">61,455</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December&#160;30, 2013</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2013</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">57</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Aurelia Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Honey Badger (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">61,297</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February 27, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr style="HEIGHT: 16px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">58</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Rainbow Maritime LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Wolverine (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">61,297</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February 27, 2015</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">59</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Premier Voyage LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Maiden Voyage (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">58,722</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2012</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">60</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Glory Supra Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Strange Attractor (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">55,742</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;11, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">61</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Omicron LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Omicron</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">53,489</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">April&#160;17, 2008</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2005</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">62</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Gamma LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Gamma</font> (ex <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">C Duckling</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">53,098</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January&#160;4, 2008</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2002</div>
</td>
</tr>

<tr style="HEIGHT: 17px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">63</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Zeta LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 12%; VERTICAL-ALIGN: middle; FONT-STYLE: italic; BACKGROUND-COLOR: #c6f4f9">
<div>Star Zeta (ex&#160;I Duckling)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">52,994</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January&#160;2, 2008</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2003</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">64</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Delta LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Delta </font>(ex <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">F Duckling</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">52,434</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January&#160;2, 2008</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2000</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">65</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Theta LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Theta</font> (ex <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">J Duckling</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">52,425</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December&#160;6, 2007</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2003</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">66</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Epsilon LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Epsilon</font> (ex <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">G Duckling</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">52,402</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December&#160;3, 2007</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2001</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">67</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Cosmo LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic; TEXT-ALIGN: justify">Star Cosmo</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">52,246</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;1, 2008</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2005</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">68</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Kappa LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Kappa</font> (ex <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">E Duckling</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">52,055</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">December&#160;14, 2007</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">2001</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">69</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXX LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify"><font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Michele </font>(2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">45,588</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 14, 2014</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">1998</div>
</td>
</tr>
</table>
</div>

<div>
<div style="MARGIN-BOTTOM: 4pt">&#160;</div>

<div>________________</div>
</div>

<div style="MARGIN-BOTTOM: 4px; TEXT-ALIGN: justify">
<div style="MARGIN-BOTTOM: 4px; TEXT-ALIGN: justify">
<table id="0c6025d2390a4f369bdedad2bf9cba0e" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Vessels acquired pursuant to the Merger and the Pappas Transaction</td>
</tr>
</table>
</div>

<table id="58704c9d9cee4451aa72d6f7b5d97fa5" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Vessels acquired pursuant to the Excel Transactions</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 4px">
<table id="f6831f6f5b934b7bb5413621fdbb6147" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">(3)</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt; TEXT-INDENT: -18pt">Vessels acquired from Heron</div>
</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">
<table id="fd3f203e06dd4f67843863bd5b53d4df" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(4)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Vessels subject to a capital bareboat lease (Note 5)</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Newbuildings at June 30, 2015</div>

<div>
<table id="50ddeb4ccf9e4556b1e523c670de8765" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Wholly Owned Subsidiaries</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 12%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Newbuildings Name</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">Type</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 10pt; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">DWT</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid">&#160;&#160; </td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center">
<div style="FONT-SIZE: 8pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Expected Delivery</div>

<font style="FONT-SIZE: 10pt">Date</font></div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">1</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Sea Diamond Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">HN NE 167 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Goliath) </font>(Note 15)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">209,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;2015</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">2</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Coral Cape Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">HN NE 184 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Maharaj) </font>(Note 15)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">209,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">3</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Ennea LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN NE 198 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Poseidon</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">209,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">4</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Clearwater Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1359 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Marisa</font>) (1) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November&#160;2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">5</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Seeker LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1372 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Libra</font>) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November&#160;2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">6</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Domus Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1360 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Ariadne</font>) (1) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">7</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Castle&#160;I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1342 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Gemini</font>) (1)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">8</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Breezer LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1371 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Virgo</font>) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">9</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Festive Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">HN 1361 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Magnanimus</font>) (1) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">May&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">10</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Castle&#160;II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1343 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Leo</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">11</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">White Sand Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1363 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Chaucer</font>) (1) (2)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Newcastlemax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">208,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">12</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Cape Confidence Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 5055 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Behemoth)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">182,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">13</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Cape Runner Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 5056 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Megalodon)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">182,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">14</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Olympia Shiptrade LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1312 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Bruno Marks)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">September&#160;2015</div>
</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">15</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Victory Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1313 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Jenmark)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">16</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Cape&#160;I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1338 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Aries</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">November&#160;2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">17</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Cape&#160;II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1339 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Taurus</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Capesize</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">180,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March&#160;2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">18</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Blooming Navigation LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1080 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Kennadi)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 2016</div>
</td>
</tr>
</table>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-10</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>
</div>
</div>

<div>&#160;</div>

<table id="f2f233c0de4441d5b29be2ebfa0f61ac" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">19</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Jasmine Shipping LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1081 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Mackenzie)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">February 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">20</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Oday Marine LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1082 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Night Owl)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">March 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">21</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Searay Maritime LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 1083 <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">(</font>tbn<font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic"> Early Bird)</font></div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">64,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">April 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">22</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Axe&#160;I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN NE 196 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Antares</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">61,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">October 2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">23</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Axe&#160;II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN NE 197 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Lutas</font>)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">61,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">January 2016</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">24</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Asia&#160;I LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: left">HN 5040 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Aquarius</font>) (Note 15)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">60,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">July&#160;2015</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 4%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: right">25</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 15%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Asia&#160;II LLC</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 12%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">HN 5043 (tbn <font style="FONT-FAMILY: 'Times New Roman', serif; FONT-STYLE: italic">Star Pisces</font>) (Note 15)</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Ultramax</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">60,000</div>
</td>
<td style="FONT-SIZE: 9pt; WIDTH: 2%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="FONT-SIZE: 9pt; WIDTH: 10%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: center">August&#160;2015</div>
</td>
</tr>
</table>
</div>

<div>
<div><br />
________________</div>

<div>
<div style="MARGIN-BOTTOM: 4px; TEXT-ALIGN: justify">
<table id="a2956d50a91f4b75a5e0d9dee795bcb2" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
<div>Vessels acquired pursuant to the Merger and the Pappas Transaction</div>
</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="e3fe7924f1c3480daaf5d71463c6fb0d" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Subject to a capital bareboat lease (Note 6)</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: justify">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-11</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Non-vessel owning subsidiaries at June 30, 2015</div>

<div>
<table id="e5a9d24522624010b0ce3fbdda3025de" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Wholly Owned Subsidiaries</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Bulk Management Inc.</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Starbulk S.A.</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Bulk Manning LLC</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Omas LLC (1)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Synergy LLC (1)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Oceanbulk Shipping LLC</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Oceanbulk Carriers LLC</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">International Holdings LLC</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Unity Holding LLC</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Bulk (USA) LLC</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXI LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXIV LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXVII LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXXI LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXIX LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Trident XXVIII LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Lamda LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Alpha LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Beta LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Ypsilon LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Mega LLC (2)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 9pt; WIDTH: 100%; VERTICAL-ALIGN: middle">
<div style="FONT-FAMILY: 'Times New Roman', serif; TEXT-ALIGN: justify">Star Big LLC (2)</div>
</td>
</tr>
</table>
</div>

<div>
<div style="MARGIN-BOTTOM: 4pt"><br />
</div>

<div>________________<br />
</div>
</div>

<div style="MARGIN-BOTTOM: 4px; TEXT-ALIGN: justify">
<table id="9085403117bc4bfcb936642f1fe539b4" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Entities established to merge with the holding companies of Oceanbulk</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="df510281cc9e4800b2ac0298de6beeab" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Owning companies of vessels which were sold that currently have no operations</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-12</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt">
<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Below is the list of the vessels which were under commercial and technical management by Star Bulk&#8217;s wholly owned subsidiary, Starbulk S.A., during the six month period ended June 30, 2014.&#160; For each vessel, Starbulk S.A. received a fixed management fee of $0.75 per day.</div>

<div>
<table id="4c3a2a8c9d6141fea25ca32cc6437498" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Vessel Owning Company</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Vessel Name</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">DWT</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid">
<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Effective Date</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">of Management</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Agreement</div>
</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: black 2px solid">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Year Built</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Global Cape Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Kymopolia</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">176,990</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">January&#160;30, 2014</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">OOCAPE1 Holdings LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Obelix</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">181,433</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">October&#160;19, 2012</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pacific Cape Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Pantagruel</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">180,181</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">October&#160;24, 2013</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Sea Cape Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Big Bang</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">174,109</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">August&#160;30, 2013</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2007</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Sky Cape Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Big Fish</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">177,662</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">October&#160;18, 2013</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2004</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Majestic Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Madredeus</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">98,681</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">February&#160;4, 2014</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Nautical Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Amami</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">98,681</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">February&#160;4, 2014</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Grain Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Pendulum</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">82,619</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">February&#160;17, 2014</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Mineral Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Mercurial Virgo</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">81,545</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">February&#160;17, 2014</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2011</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Adore Shipping Corp.</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Renascentia (2)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">74,732</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">June 20, 2013</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">1999</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Hamon Shipping Inc</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Marto</font> (3)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">74,470</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">August&#160;2, 2013</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2001</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Glory Supra Shipping LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Strange Attractor</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">55,742</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">September&#160;24, 2013</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Premier Voyage LLC (1)</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Maiden Voyage</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">58,722</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">September&#160;28, 2012</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2012</div>
</td>
</tr>

<tr>
<td style="WIDTH: 30%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Serenity Maritime Inc.</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 20%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: left">Serenity I</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">53,688</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">June&#160;11, 2011</div>
</td>
<td style="WIDTH: 2%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff"></td>
<td style="WIDTH: 15%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: center">2006</div>
</td>
</tr>
</table>
</div>

<div>
<div style="MARGIN-BOTTOM: 4pt">&#160;</div>

<div>________________</div>
</div>

<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: justify">
<table id="669a899eaf754b6eab7235021d11ecf8" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The respective companies were related parties, please refer to Note 3, which became wholly owned subsidiaries following the completion of the Merger on July&#160;11, 2014, when the respective management agreements were terminated.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: justify">
<table id="3df3ce23cd824e8b90eabd81f08e942a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On June 20, 2014, this vessel was sold and the management agreement between Starbulk S.A. and the previous owners was terminated. The Company received management fees for a period of two months following the termination date, in accordance with the terms of the management agreement</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="4ec88405f6334c5a993360944229ca4a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On July&#160;3, 2014, the Company received a notice of termination of the management agreement for the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Marto</font>, one of the third-party owned vessels under the Company&#8217;s management.&#160; The management agreement was terminated upon the vessel&#8217;s delivery to its new managers, on August&#160;20, 2014.&#160; The Company was entitled to receive management fees for a period of three months following the termination date, in accordance with the terms of the management agreement.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-13</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt">&#160;</div>

<div style="MARGIN-BOTTOM: 8pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div>
<table id="51ab1ea0eaa24911b99e5330b1b58c9b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">2.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Significant accounting policies and recent accounting pronouncements:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A summary of the Company&#8217;s significant accounting policies is included in Note 2 to the Company&#8217;s consolidated financial statements included in the Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the SEC on April 8, 2015. There have been no changes to the Company&#8217;s significant accounting policies in the six month period ended June 30, 2015, except for the following:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vessel, net: </font>Effective January&#160;1, 2015, and following management&#8217;s reassessment of the residual value of the Company&#8217;s vessels, the estimated scrap value per light weight tonnage was increased from $0.2 to $0.3. The current value of $0.3 was based on the historical average demolition prices prevailing in the market. The effect of this change in accounting estimate, which pursuant to Accounting Standards Codification (&#8216;ASC&#8217;) 250 &#8220;Accounting Changes and Error Corrections&#8221; was applied prospectively and did not require retrospective application, was to decrease the depreciation expense and the net loss for the six month period ended June 30, 2015, by $3,273 or $0.02 loss per basic and diluted share.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Vessels under capital lease:</font> The Company has entered into certain leasing agreements for the leasing of various vessels. Leases of vessels are classified as capital leases when they satisfy the criteria for capital lease classification under ASC 840 &#8220;Leases&#8221;. Capital leases are capitalized at the inception of the lease at the lower of the fair value of the leased assets and the present value of the minimum lease payments. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the capital balance outstanding. The interest element of the capital cost is charged to the statement of operations and is included within "Interest and finance costs" in the consolidated statement of operations. Depreciation of vessels under capital lease is included within "Depreciation" in the consolidated statement of operations. When the ownership of a vessel is transferred at the end of the lease, or there is a bargain purchase option, the vessel is depreciated on a straight-line basis over its useful life as if the vessel was owned. O<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">therwise, vessels under capital lease are depreciated on a straight-line basis over the term of the lease.</font></div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Share incentive plan awards &#8211; Share Options:</font>&#160;The fair value of share option grants is determined with reference to option pricing models, and depends on the terms of the granted options. The fair value is recognized (generally as compensation expense) over the requisite service period for all awards that vest.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Recent accounting pronouncements:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Simplifying the Presentation of Debt Issuance Costs</font>: In April&#160;2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (&#8216;ASU&#8217;) No.&#160; 2015-03, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Interest&#8212;Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs. </font>ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. ASU 2015-03 is effective, for public business entities, for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted. While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company&#8217;s financial statements and accompanying notes.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Revenue from Contracts with Customers</font>: On May 28, 2014, the FASB issued ASU No. 2014-09 &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Revenue from contracts with customers</font>&#8221; with an effective date for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. On August 12, 2015, the FASB issued ASU No. 2015-14 &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Revenue from contracts with customers</font>&#8221;, which defers the effective date of ASU 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. Presently, the Company is assessing what effect the adoption of these ASUs will have on its financial statements and accompanying notes.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Technical Corrections and Improvements</font>: In June&#160;2015, FASB issued ASU No. 2015-10, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Technical Corrections and Improvements. </font>The amendments in this update cover a wide range of Topics in the ASC. The amendments in this update represent changes to make minor corrections or minor improvements to the ASC that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Among others, according to the requirements of the ASU, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity shall clearly indicate that the fair value information presented is not as of the period&#8217;s end as well as the date or period that the measurement was taken. Transition guidance varies based on the amendments in this update. The amendments in this update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this update. While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company&#8217;s financial statements and accompanying notes.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic">Simplifying the Measurement of Inventory:</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">&#160;</font>In July 2015, the FASB issued ASU No. 2015-11, &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Simplifying the measurement of inventory</font>&#8221;. Topic 330, Inventory, currently requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments in this update require an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. &#160;For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years.. The amendments in this update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period.&#160; While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company&#8217;s financial statements and accompanying notes.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

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</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-15</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div>
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<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">3.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Transactions with Related Parties:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Details of the Company&#8217;s transactions with related parties are discussed in Note 3 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2014, included in the Company&#8217;s annual report on Form 20-F. In addition to those transactions, three of the Excel Vessels (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Christine (tbr Star Martha), Star Pauline and Star Despoina</font>), which were acquired with attached time charters, are managed by Maryville Maritime Inc. (&#8220;Maryville&#8221;), a subsidiary of Excel.&#160; Maryville is managing these three vessels until the expiration of their existing time charter agreements (two of which expired in August 2015 and one which expires in October 2015) at a monthly fee of $17.5 per vessel.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Transactions and balances with related parties are analyzed as follows:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 36pt; TEXT-INDENT: -18pt">Balance Sheet</div>

<div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Assets</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"></div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"></div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Oceanbulk Maritime S.A. and its affiliates</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">241</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">667</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Product Shipping &amp; Trading S.A.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Total Assets</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">245</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">671</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Liabilities</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Interchart Shipping Inc.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">6</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Combine Marine Ltd.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Management and Directors Fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">462</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">314</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Managed Vessels of Oceanbulk Shipping LLC</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Oceanbulk Sellers (Note 13)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,689</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">50</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Maryville Maritime Inc.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">514</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Total Liabilities</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2,166</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">900</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div><br />
</div>

<div>
<table id="378dff23b7fc4a378ad47a6f409131bc" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Excel Vessel Bridge Facility outstanding balance</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Excel Vessel Bridge Facility &#8211; current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,168</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Excel Vessel Bridge Facility &#8211; non- current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">47,993</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Total Excel Vessel Bridge Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">56,161</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div><br />
</div>

<div><br />
</div>

<div>
<table id="e1028d550099400696cc8c0a525595da" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Capitalized Expenses</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Advances for vessels under construction and acquisition of vessels</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"></div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"></div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Oceanbulk Maritime S.A.- commission fee for newbuilding vessels</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,038</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,557</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div><br />
</div>

<div><br />
</div>

<div><br />
&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-16</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>
</div>
</div>

<div>&#160;</div>

<div>
<table id="9f22266751154f1091c6418990450237" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Statements of Operations</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>June 30,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; BACKGROUND-COLOR: #ffffff" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Voyage expenses-Interchart</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(385</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(1,650</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Executive directors consultancy fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(286</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(317</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Non-executive directors compensation</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(71</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(79</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Office rent - Combine Marine Ltd.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(21</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(17</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Management fee expense - Maryville Maritime Inc.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(315</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Interest on Excel Vessel Bridge Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(220</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Management fee income - Oceanbulk Maritime S.A.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">93</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Management fee income - Managed Vessels of Oceanbulk Shipping LLC</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,299</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Management fee income Product Shipping &amp; Trading S.A.</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">62</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>
<table id="5be594bab42047f799aff6a9163aa983" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">4.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Inventories:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</div>

<div>
<table id="6f4ff253b24647b1b67c312c2ecccdc0" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 90%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Lubricants</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">6,853</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,106</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Bunkers</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7,515</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,585</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">14,368</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">16,691</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-17</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 8pt; TEXT-ALIGN: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt; TEXT-ALIGN: left">&#160;</div>

<div style="MARGIN-BOTTOM: 8pt; TEXT-ALIGN: left">
<div>
<table id="ad5224edd5084b749d12065eec9088c2" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">5.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Vessels and Other Fixed Assets, Net:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 8pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</div>
</div>

<div>
<table id="cc582171f45f4335bdbf8ad4e9801d4c" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 92%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Cost</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Vessels</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,541,538</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,857,658</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Fair value adjustment</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">100,065</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">151,588</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Other fixed assets</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,683</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,701</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Impairment charge</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(8,282</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BORDER-BOTTOM-COLOR: ; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total cost</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">1,643,286</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2,002,665</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Accumulated depreciation</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(201,435</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(230,001</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Vessels and other fixed assets, net</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">1,441,851</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">1,772,664</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of June 30, 2015, the Company performed an impairment review for its fleet, since certain factors indicated that the carrying amount of its vessels might not be recoverable. Such review did not result in any impairment to the value of the Company&#8217;s vessels, except for the value of certain vessels that the Company agreed to sell, which vessels were subject to an impairment charge as discussed below.</div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Vessels acquired / disposed during the six month period ended June 30, 2014</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On January 24, 2014, the Company entered into two agreements to acquire from Glocal Maritime Ltd, or &#8220;Glocal&#8221;, an unaffiliated third party, two 98,681 dwt Post-Panamax vessels, <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Vega</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Sirius</font>, built 2011, for an aggregate purchase price of $60,000. The vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Vega</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Sirius</font>, were delivered to the Company on February&#160;13, 2014 and March&#160;7, 2014, respectively. The vessels, upon their delivery, were chartered back to Glocal for a daily rate of $15 less brokerage commission of 1.25% until at least June&#160;2016.</div>

<div style="BACKGROUND-COLOR: #ffffff">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">No vessel disposals took place in the six month period ended June&#160;30, 2014.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify">Vessels acquired / disposed during the six month period ended June 30, 2015</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Delivery of newbuilding vessels:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On January 8, 2015, the Company took delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Indomitable</font> (ex&#8211;HN 5016), for which it had previously made a payment of $34,942 in December 2014. To partially finance the delivery installment of the <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Indomitable</font>, the Company drew down $32,480 under the BNP $32,480 Facility.</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On February 27, 2015, the Company took delivery of the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Honey Badger</font> (ex&#8211;HN 164) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Wolverine</font> (ex&#8211;HN 165), for which the Company paid delivery installments of $19,422 each. On March 13, 2015, the Company drew down $38,162 for the financing of both <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Honey Badger</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Wolverine</font> under the Sinosure Facility.</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On March 25, March 31, April 7, and June 26, 2015, the Company took delivery of the Ultramax vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Idee Fixe</font> (ex&#8211;HN 1063), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Roberta</font> (ex&#8211;HN 1061), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Laura</font> (ex&#8211;HN 1062) and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Kaley</font> (ex&#8211;HN1064), respectively, which are all subject to separate bareboat charter agreements (which are accounted for as capital leases as discussed below) with Jiangsu Yangzijiang Shipbuilding Co. Ltd. (&#8220;New Yangzijiang&#8221;).</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On April 2, 2015, the Company took delivery of the Newcastlemax vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Gargantua</font> (ex-HN 166). The delivery instalment of $37,682 was partially financed by $32,400 drawn under the DNB-SEB-CEXIM $227,500 Facility, while the remaining amount was financed through existing cash.</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">On May 27, 2015, the Company took delivery of the Capesize vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Deep Blue</font> (ex-HN 5017). The delivery installment of $34,982 was partially financed by $28,680 drawn under the DVB $31,000 Deep Blue Facility.</td>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Acquisition of secondhand vessels</font>:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the six month period ended June 30, 2015, the remaining six of the Excel Vessels (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Nina</font> (ex. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Iron Kalypso</font>), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Nicole</font> (ex. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Elinakos</font>), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Claudia</font> (ex. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Happyday</font>), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Monisha</font> (ex. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Iron Beauty</font>), <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Rodon</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Jennifer</font> (ex. <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Ore Hansa</font>) were delivered to the Company in exchange for 4,257,887 common shares and $39,475 in cash, completing the acquisitions of 34 vessels from Excel as further discussed in Note 1 above.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Sale of vessels</font>:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On January&#160;20, January&#160;28, March&#160;6, and March&#160;19, 2015, the Company entered into separate agreements with third parties to sell four of the recently acquired Excel Vessels&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Julia</font>,&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Tatianna</font>,&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Rodon&#160;</font>and&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Monika</font>, respectively. The vessels were delivered to their new owners on February&#160;4, February&#160;9, March&#160;12 and April&#160;7, 2015, respectively. As of March 31, 2015, the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Monika</font> met the criteria for classification as held for sale, and the Company recognized an impairment loss of $1,080. In addition, the vessel&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Kim,</font>&#160;which was agreed to be sold in December 2014, was delivered to its new owners on January 21, 2015. In connection with the sale of the vessels&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Julia</font>,<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">&#160;Star Tatianna, Star Monika&#160;</font>and&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Kim,</font>&#160;the Company prepaid an amount of $18,181 under the Excel Vessel CiT Facility.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, on April 17, 2015, May 18, 2015 and June 5, 2015 the Company entered into separate agreements with third parties to sell the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Big, Star Christianna</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Mega</font>. The vessels were delivered to their new owners on June 4, 2015, June 23, 2015 and June 17, 2015, respectively.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In connection with the aforementioned sales the Company recognized a total net loss on sale of vessels of $13,389, which is separately reflected in the statement of operations for the six month period ended June 30, 2015.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maiden Voyage</font>. As part of this transaction, the vessel will be leased back to the Company under a time charter for two years, and Star Bulk will guarantee all the liabilities and responsibilities of the vessel&#8217;s shipowning entity (Premier Voyage LLC) under this charter. The lease back did not meet the lease classification test for a capital lease and will be accounted for as operating lease. In addition, the vessel did not meet the &#8216;held-for-sale&#8217; classification criteria as of June 30, 2015, as it was not considered available for immediate sale in its present condition. In connection with this sale, an impairment charge of $8,282 was recorded, which includes a $4,411 write-off of the fair value adjustment recognized upon the Merger (Note 1). The vessel was delivered to its new owner in September 2015 (Note 15).</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Capital leases</font>:</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On May&#160;17, 2013, subsidiaries of Oceanbulk entered into separate bareboat charter party contracts with affiliates of New Yangzijiang shipyards for eight-year bareboat charters of four newbuilding 64,000 dwt Ultramax vessels being built at New Yangzijiang.&#160; The Company assumed these bareboat charters following the completion of the Merger. The vessels were constructed pursuant to four shipbuilding contracts entered into between four pairings of affiliates of New Yangzijiang.&#160; Each pair had one shipyard party (each, a &#8220;New YJ Builder&#8221;) and one ship-owning entity (each a &#8220;New YJ Owner&#8221;).&#160; Delivery of each vessel to the Company was deemed to occur upon delivery of the vessel to the New YJ Owner from the corresponding New YJ Builder. Pursuant to the terms of the bareboat charter, the Company was required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $20,680 for the construction cost of each vessel, corresponding to the delivery installment to the shipyard, as agreed to be financed by the relevant New YJ Owner, to whom the Company will pay a pre-agreed daily bareboat charter hire rate on a 30-days advance basis.&#160; After each vessel&#8217;s delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices.&#160; On the eighth anniversary of the delivery of each vessel, the Company has the obligation to purchase the vessel at a purchase price of $6,000. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the four vessels. As further discussed above, the Company took delivery of these four vessels during the six month period ended June 30, 2015.</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Based on applicable accounting guidance, the Company determined that the bareboat charters should be classified as capital leases. At the time of delivery, when the term of the lease was deemed to begin, the Company recorded a financial liability and a financial asset equal to the present value of the minimum lease payments in accordance with the applicable capital lease accounting guidance. The net book value of these vessels (which includes the upfront fees paid by the Company to the lessor during the construction period and the additional amounts paid by the Company to the lessor at the vessel&#8217;s delivery in form of additional upfront fees, net of accumulated depreciation) recorded as of June 30, 2015 is reflected within &#8220;Vessels and other fixed assets, net&#8221; in the accompanying unaudited consolidated balance sheet. The charge resulting from amortization of these leased assets is included within &#8220;depreciation expense&#8221; in the accompanying unaudited statement of operations.&#160; The interest expense on the financial liability related to these capital leases as of June 30, 2015 was $872 and is included within &#8220;Interest and finance costs&#8221; in the accompanying unaudited statement of operations. As of June 30, 2015 the net book value of the vessels was $123,210, with accumulated amortization of $842.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The principal payments required to be made after June 30, 2015, for the outstanding capital lease obligations, are as follows:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2016</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,640</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2017</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,640</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2018</div>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">8,640</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2019</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9,572</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2020</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,370</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 8px">
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2021 and thereafter</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">58,016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 10.05pt">Total capital lease minimum payments</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">105,878</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Excluding bareboat interest</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">24,198</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 10.05pt">Total lease commitments</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">81,680</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Lease commitments &#8211; current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,380</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Lease commitments &#8211; non-current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">77,300</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-20</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div>
<table id="acbd655c2c3a4c6d9fcab77ad82bf4c5" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">6.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">Advances for vessels under construction and acquisition of vessels:</div>
</td>
</tr>
</table>
</div>
</div>
</div>

<div>
<table id="d692de190fe54fbf86d4adf352bd094c" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 90%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Pre-delivery yard installments</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">270,947</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">206,997</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Fair value adjustment (Note 1)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">137,923</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">86,400</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Bareboat capital leases &#8211; upfront hire &amp; handling fees</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">31,467</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">44,551</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Capitalized interest and finance costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">10,654</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">14,636</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Other capitalized costs (Note 3)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,542</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">4,554</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Advances for secondhand vessels</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">79</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Impairment charge</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(19,467</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Total</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">454,612</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">337,671</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As summarized in the relevant table of Note 1, as of June 30, 2015 the Company was party to 25 newbuilding contracts for the construction of dry bulk carriers of various types, 14 of which were assumed as part of the Merger and the Pappas Transaction.&#160; As of June 30, 2015, the total aggregate remaining contracted price for the 25 newbuilding vessels plus agreed additional amounts was $577,868 (giving effect to the renegotiated prices and delivery dates of certain of the Company&#8217;s newbuilding vessels disclosed in Notes 15(a) and (b)), payable in periodic installments up to their deliveries, of which $500,681 is payable during the next twelve months ending June 30, 2016 and the remaining $77,187 is payable during the twelve months ending June 30, 2017.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On February 17, 2014, the Company entered into separate bareboat charter party contracts with CSSC (Hong Kong) Shipping Company Limited, or CSSC, an affiliate of Shanghai Waigaoqiao Shipbuilding Co., Ltd. (&#8220;SWS&#8221;), a Chinese shipyard, to bareboat charter for ten years two fuel efficient newbuilding Newcastlemax dry bulk vessels (the &#8216;CSSC Vessels&#8221;), each with a cargo carrying capacity of 208,000 dwt. The vessels are being constructed pursuant to shipbuilding contracts entered into between two pairings of affiliates of SWS. Each pair has one shipyard party (each, an &#8220;SWS Builder&#8221;) and one ship-owning entity (each an &#8220;SWS Owner&#8221;). Delivery to the Company of each vessel is deemed to occur upon delivery of the vessel to the SWS Owner from the corresponding SWS Builder. Pursuant to the terms of the bareboat charters, the Company is required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $47,200 and $46,400, respectively, for the construction cost of each vessel, corresponding to the last pre-delivery and delivery installment to the shipyard, will be financed by the relevant SWS Owner, to whom the Company will pay a daily bareboat charter hire rate payable monthly plus a variable amount. In addition, the Company will pay an installment of $300 plus an additional amount of $669 for agreed extra costs for both vessels. In addition, the Company is also obliged to pay an amount of $936 representing handling fees in two installments. The first installment of $462 was paid upon the signing of the bareboat charters, and the second installment is due in one year. Under the terms of the bareboat charters, the Company has the option to purchase the CSSC Vessels at any time, such option being exercisable on a monthly basis against pre-determined, amortizing-during-the-charter-period prices whilst it has a respective obligation of purchasing the vessels at the expiration of the bareboat term at a purchase price of $14,160 and $13,919, respectively. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the CSSC Vessels.<br />
</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-21</div>

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<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, following the completion of the Merger and the Pappas Transactions, the Company assumed bareboat charters with respect to five newbuilding vessels being built at SWS for subsidiaries of Oceanbulk at the time of Merger. On December&#160;27, 2013, subsidiaries of Oceanbulk had entered into separate bareboat charter party contracts with affiliates of SWS for ten-year bareboat charters of five newbuilding 208,000 dwt Newcastlemax vessels. The vessels are being constructed pursuant to shipbuilding contracts entered into between five pairings of affiliates of SWS.&#160; Each pair has one shipyard party (each, an &#8220;SWS Builder&#8221;) and one ship-owning entity (each an &#8220;SWS Owner&#8221;). Delivery of each vessel to the Company is deemed to occur upon delivery of the vessel to the SWS Owner from the corresponding SWS Builder. Pursuant to the terms of the bareboat charter, the Company is required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $46,400 for the construction cost of each vessel, corresponding to the delivery installment to the shipyard, will be financed by the relevant SWS Owner, to whom the Company will pay a daily bareboat charter hire rate payable monthly plus a variable amount payable every six months and a one-time handling fee of $464. In addition, the Company will pay for the five newbuilding vessels an aggregate amount of $1,680 for agreed extra costs. After each vessel&#8217;s delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices. At the end of the ten-year charter period for each vessel, the Company has the obligation to purchase the vessel at a purchase price of $13,919. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the five vessels.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Based on applicable accounting guidance, the Company determined that the bareboat charters with the affiliates of SWS and CSSC should be classified as capital leases. Therefore, the amount of $15,669 paid during the six months ended June 30, 2015, representing the installments for the upfront hire and handling fees of the newbuilding vessels, including for those vessels delivered during this period, has been capitalized. In addition, based on the lease agreement provisions, the Company is not deemed to bear substantially all of the construction period risk and therefore is not considered the owner of the vessels during the construction period. Therefore, each of the above bareboat charters is not considered a sales type lease and will not be accounted for as a sale and leaseback transaction upon the delivery of each newbuilding vessel to the Company, when the lease term is deemed to begin.&#160; At that time the Company will recognize the appropriate financial liability and financial asset in accordance with the applicable capital lease accounting guidance.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the six month period ended June 30, 2015, the Company entered into a cancellation agreement with a shipyard for the cancellation of a shipbuilding contract for a newbuilding vessel, which was previously scheduled to be delivered to the Company in June 2016 under a bareboat charter agreement. Under this cancellation agreement, the Company has no obligation to compensate the shipyard or the bareboat charterer for this cancelled vessel. In connection with the respective cancellation an impairment of $3,009 was recorded, which includes a $2,500 write-off of the fair value adjustment recognized upon the Merger. (Note 1).</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the six month period ended June 30, 2015, the Company entered into an agreement with a third party to sell one of its newbuilding vessels upon its delivery to the Company, which is expected to take place in 2016. In connection with this sale, an impairment charge of $16,458 was recorded, which includes a $11,300 write-off of the fair value adjustment recognized upon the Merger (Note 1).<br />
</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-22</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div>
<table id="10e8c6db7b48474583ddaf7b72511e9a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">7.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">Fair value of Above Market Acquired Time Charters:</div>
</td>
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</table>
</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The amortization of fair value of above market acquired time charters for the six months ended June 30, 2014 and 2015 was $3,149 and $7,071, respectively.&#160; It relates to (i)&#160;the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Big</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Mega</font>, which were acquired in 2011, (ii)&#160;the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Amami</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Medredeus</font>, which were acquired as part of the Merger with time charters attached, and (iii) three Excel Vessels (<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Christine (tbr Star Martha), Star Pauline and Star Despoina</font>), which were acquired as part of the Excel Transactions each with a time charter.&#160;Such amortization is included under &#8220;Voyage revenues&#8221; in the accompanying unaudited interim condensed consolidated statements of operations. The accumulated amortization of these above market time charters as of December 31, 2014 and June 30, 2015 was $21,200 and $28,271, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The estimated aggregate amortization expense of the above market acquired time charters until their expiration is analyzed as follows:</div>

<div><br />
</div>

<div>
<table id="5f8adbf06ead4f518046bb8a5bb100a7" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 70%" cellspacing="0" cellpadding="0" align="center" border="0">
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<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Twelve month periods ending</div>
</td>
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<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
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<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2016</div>
</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">2,723</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 10.05pt">Total</div>
</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">2,723</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As described in Note 5 above, in the second quarter of 2015, the Company entered into an agreement with a third party to sell the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Big</font>. In view of its planned sale, its above market acquired time charter was early terminated, and the unamortized balance relating to this vessel of $2,114, at June 30, 2015, was written-off and reflected under &#8220;Loss on time charter agreement termination&#8221; in the accompanying unaudited interim condensed statement of operations for the six month period ended June 30, 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-23</div>

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<div style="MARGIN-BOTTOM: 8pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</div>

<div style="MARGIN-BOTTOM: 8pt">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div>
<table id="c7b046091f8742eb97ca70cfab045ac6" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">8.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">Long-term Debt:</div>
</td>
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</table>
</div>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The table below presents outstanding amounts under the Company&#8217;s bank loans and notes as of December 31, 2014 and June 30, 2015:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt"><br />
&#160;</div>

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<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">December 31, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">June 30, </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Commerzbank $120,000 and $26,000 facilities</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">74,680</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">44,417</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Credit Agricole Corporate and Investment Bank $70,000 facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">54,968</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">52,998</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">ABN AMRO Bank N.V. $31,000 facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">12,800</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">HSH Nordbank AG $64,500 facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">29,600</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">24,547</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">HSH Nordbank AG $35,000 facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">33,187</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">31,979</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Deutsche Bank AG $39,000 facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">36,660</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">35,100</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">ABN $87,458 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">76,689</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">71,740</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 11px">
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Deutsche Bank $85,000 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">82,708</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">79,875</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">HSBC $86,600 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">83,490</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">80,380</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">CEXIM $57,360 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">HSBC $20,000 Dioriga Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">19,300</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">18,600</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">NIBC $32,000 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">BNP $32,480 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">32,480</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">31,406</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Excel Vessel Bridge Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">56,161</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">DVB $24,750 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">24,750</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">22,950</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Excel Vessel CiT Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">30,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Sinosure Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">37,366</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Citi Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">51,478</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">87,329</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Heron Vessels Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">24,567</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">21,589</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">DNB $120,000 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">88,275</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">106,712</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">DVB $31,000 Deep Blue Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">28,680</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">DNB&#8211;SEB&#8211;CEXIM 227,500 Facility</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">32,400</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">8.00% 2019 Notes</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">50,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">50,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 70%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">861,793</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">858,068</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Details of the Company&#8217;s credit facilities and debt securities are discussed in Note 9 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2014, included in the Company&#8217;s annual report on Form 20-F, except for the following:</div>

<div style="TEXT-ALIGN: justify">
<table id="92e1ac5bc1fd4486b68493f768a3bef5" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">a)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Prepayment of the Excel Vessel Bridge Facility</font>: On January 29, 2015, the Company fully prepaid the Excel Vessel Bridge Facility.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="6c36ae564cd04c309616a334b25acf32" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 59px">
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">b)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">DVB $31,000 Deep Blue Facility</font>: On May 21, 2015, the Company entered into an agreement with DVB Bank SE (the &#8220;DVB $31,000 Deep Blue Facility&#8221;) for up to $31,000 to partially finance the construction cost of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Deep Blue</font> (ex-HN 5017), a Capesize bulk carrier, under construction by Japan Marine United Corporation. The Company drew $28,680 in May 2015, upon the vessel&#8217;s delivery to the Company. The facility will be repaid in 24 equal, consecutive, quarterly principal installments of $476.5 each, with the first become becoming due and payable three months from the drawdown date, and a balloon installment of $17,245 payable simultaneously with the 24<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> instalment in May 2021. The DVB $31,000 Deep Blue Facility is secured by a first priority mortgage over the financed vessel and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div>&#160;</div>

<div>&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-24</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div>
<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>
</div>
</div>

<div>&#160;</div>

<div style="TEXT-ALIGN: justify">
<table id="6d03eb82d6924227ab36a510dc854022" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">c)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">BNP committed term sheet</font>: On March 13, 2015, the Company entered into a committed term sheet with BNP Paribas for up to $39,500 to finance two vessels, the newbuilding vessel HN5056 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Megalodon</font>) and the 2004-built Panamax vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Emily</font>.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="c8cde451887241d4a322305c107097d1" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">d)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">DNB&#8211;SEB&#8211;CEXIM $227,500 Facility</font>: On March 31, 2015, the Company entered into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA and the Export-Import Bank of China (CEXIM) as mandated lead arrangers and DNB Bank ASA, Skandinaviska Enskilda Banken AB (SEB) and CEXIM as original lenders (the &#8220;DNB&#8211;SEB&#8211;CEXIM $227,500 Facility&#8221;) for up to $227,500 to partially finance the construction of seven newbuilding vessels, HN166 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Gargantua</font>), HN167 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Goliath</font>), HN1338 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Aries</font>), HN184 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maharaj</font>), HN1339 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Taurus</font>), HN1342 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Gemini</font>) and HN198 (tbn <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Poseidon</font>). The financing will be available in seven separate tranches, one for each newbuilding vessel. The first tranche of $32,400 was drawn in April, 2015, upon the delivery of the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Gargantua</font> (ex&#8211;HN 166) to the Company. This tranche will be repaid in 24 equal, consecutive, quarterly principal installments of $508.4 each, with the first becoming due and payable three months from the drawdown date and a balloon installment of $20,198 payable simultaneously with the 24<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> instalment in April 2021. The DNB&#8211;SEB&#8211;CEXIM $227,500 Facility is secured by a first priority cross-collateralized mortgage over the financed vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="712eddadd63b4ae9b8f85bf002afefb2" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">e)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">ABN AMRO Bank N.V. $31,000 Facility</font>: On March 31, 2015, the Company and ABN AMRO signed a third supplemental agreement and agreed to revise certain financial covenants governing this facility. In June 2015, this facility was fully repaid following the sale of the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Big</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Mega.</font> (Note 5)</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="e98fac242b6e48728392bcc3659269a3" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">f)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Restructuring Agreement &#8211; Commerzbank $120,000 and $26,000 Facilities</font>: On March 30, 2015, the Company and Commerzbank AG signed a second supplemental agreement. Under the supplemental agreement, the Company agreed to (i)&#160;prepay Commerzbank AG $3,000, (ii)&#160;amend some of the financial covenants governing this facility, and (iii) change the repayment date relative to Commerzbank $26,000 tranche from September 7, 2016 to July 31, 2015. The tranche of Commerzbank $26,000 was fully repaid in June 2015.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="f9c161f75afc449e91f588f350351eea" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">g)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Excel Vessel CiT Facility: </font>On June 10, 2015, the Company fully repaid the Excel Vessel CiT Facility.</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="TEXT-ALIGN: justify">
<table id="f7af304e629940deb34467c514f50b59" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">h)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Amendment of Financial Covenants</font>: During the second quarter of 2015 the Company reached agreements with all of its lenders to amend certain financial covenants included in its loan facilities.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Under the DNB&#8211;SEB&#8211;CEXIM $227,500 Facility, the Company is not allowed to pay dividends until December 2017, if the Company&#8217;s liquid funds are not greater than $200,000 or $2,000 per fleet vessel. Under its other loan agreements, the Company is not allowed to pay dividends until December 31, 2016.&#160; In any event, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-25</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Furthermore, the Company&#8217;s credit facilities contain financial covenants requiring the Company to maintain various financial ratios, including:</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: left; TEXT-INDENT: 36pt">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: normal; TEXT-ALIGN: left">
<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
<table id="d29e35ed54814c2da043551b2eef92ee" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">a minimum percentage of aggregate vessel value to loans secured;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
<table id="7bd1685fa86a483f976f4e9938b8cc11" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">a maximum ratio of total liabilities to market value adjusted total assets;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
<table id="a7991e63579e456a84eb8a183b082cca" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">a minimum EBITDA to interest coverage ratio;&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
<table id="7f8c58a0c2154a5a880d1c5d76a4ecd7" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">a minimum liquidity; and</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: left">
<table id="9e74c0dc85a048208090a8fec39a2109" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 18pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Wingdings 2', serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#8212;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: left">a minimum equity ratio.</td>
</tr>
</table>
</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $35,200, respectively, which is included within &#8220;Cash and cash equivalents&#8221; in the accompanying balance sheets.&#160; In addition, as of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,789, respectively, which is included within &#8220;Restricted cash&#8221; in the accompanying balance sheets.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of December 31, 2014 and June 30, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The principal payments required to be made after June 30, 2015, for all the then outstanding debt, are as follows:</div>

<div>
<table id="0f1b443c8d964bb78a4448be57bcc44d" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 70%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Twelve month periods ending</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">Amount</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2016</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">93,128</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2017</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">140,554</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2018</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">89,780</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2019</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">203,411</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2020</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">215,902</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">June 30, 2021 and thereafter</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">115,293</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 10.05pt">Total (including 8% 2019 Notes)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">858,068</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Excluding 8.00% 2019 Notes</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">50,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 10.05pt">Total Long term debt</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">808,068</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Long term debt &#8211; current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">93,128</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Long term debt &#8211; non-current portion</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">714,940</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt"><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-TOP: 12pt; TEXT-INDENT: 36pt">At June 30, 2015, 56 of the Company&#8217;s owned vessels, having a net carrying value of $1,528,386, were subject to first-priority mortgages as collateral to its loan facilities.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">For the six month periods ended June 30, 2014 and 2015, the Company&#8217;s existing debt agreements bore interest at a weighted-average rate of approximately 3.33% and 3.30%, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-26</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 8pt">
<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">All of the Company&#8217;s bank loans bear interest at LIBOR plus a margin. The amounts of &#8220;Interest and finance costs&#8221; included in the accompanying consolidated statements of operations are analyzed as follows:</div>

<div>
<table id="1ccf2b5ad9a243889c5aac8de0b441fc" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom"></td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><br />
</font>June 30,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 13px">
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; FONT-WEIGHT: bold" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; TEXT-ALIGN: center">2014 </div>
</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" valign="bottom" colspan="2"><strong>2015</strong></td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2"></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"></td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom"></td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2"></td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap"></td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Interest on long term debt</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3,936</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">16,991</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Less: Interest capitalized</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(1,252</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(6,221</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Reclassification adjustments of interest rate swap loss transferred to </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">&#160;&#160; Interest and finance costs from Other Comprehensive Income</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,491</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Amortization of loan expenses</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">284</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,199</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 10pt">Other bank and finance charges</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">89</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">411</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; TEXT-INDENT: 10.05pt">Interest and finance costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">3,057</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">13,871</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In connection with the prepayment of the Excel Vessel Bridge Facility, the Excel Vessel CiT Facility, the ABN AMRO $31,000 Facility and the Commerzbank 26,000 Facility, $974 of unamortized deferred finance charges was written off and included under &#8220;Loss on debt extinguishment&#8221; in the accompanying consolidated statement of operations for the six month period ended June 30, 2015.</div>

<div>
<table id="60cd47644e414cadb96c0fca9bfbfcef" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">9.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Preferred and Common Shares and Additional Paid in Capital:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Details of the Company&#8217;s Preferred and Common Shares are discussed in Note 10 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2014, included in the Company&#8217;s annual report on Form 20-F, filed with the SEC on April&#160;8, 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the six month period ended June 30, 2014, 22,598 common shares were issued, as part of the consideration for the acquisition of 33% of the total outstanding common stock of Interchart.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">During the six month period ended June 30, 2014, the Company issued 394,167 common shares under its 2014 Equity Incentive Plan, 8,000 common shares, which were granted to certain directors of the Company and 9,333 common shares to the Company&#8217;s former Chief Executive Officer, representing the first installment of his minimum guaranteed incentive award in accordance with his consultancy agreement.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In August&#160;2014, the Company agreed to issue the Excel Vessel Share Consideration of 29,917,312 common shares under the terms of the Excel Transactions. During the six month period ended June 30, 2015, the Company issued 4,257,887 common shares as part of the Excel Vessel Share Consideration following the deliveries of the last six Excel Vessels (Note 1).</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Equity offerings</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On January 14, 2015, the Company completed a primary underwritten public offering of 49,000,418 of its common shares, at a price of $5.00 per share. The aggregate proceeds to the Company, net of underwriters commissions and offering expenses, were&#160; $242,211.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On May 18, 2015, the Company completed a primary underwritten public offering of 56,250,000 common shares, at a price of $3.20 per share. The aggregate proceeds to the Company, net of underwriters commissions and offering expenses, were $175,586.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-27</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>

<div>
<table id="e9daf40592134957a3bd0f713b0de45e" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="HEIGHT: 12px; VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">10.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">Management fees</div>
</td>
</tr>
</table>
</div>
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As of January 1, 2015, the Company engaged Ship Procurement Services S.A. (&#8220;SPS&#8221;), an unaffiliated third party company, to provide to its fleet certain procurement services at a daily fee of $0.295 per vessel. Total management fees to SPS for the six month period ended June 30, 2015, were $3,748 and are included in Management fees in the accompanying unaudited interim condensed statement of operations. In addition, Management fees for the six month period ended June 30, 2015 also include $315 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3.</div>

<div><br />
</div>

<div>
<table id="0c2c326cc66141ceb534f9ffe868d962" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">11.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Earnings / Loss per Share:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">All shares issued (including the restricted shares issued under the Company&#8217;s equity incentive plans) are the Company&#8217;s common shares and have equal rights to vote and participate in dividends. The restricted shares issued under the Company&#8217;s equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company calculates basic and diluted earnings / loss per share as follows:</div>

<div>
<table id="1b759bcfc43f420b949ceea62f52d548" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Six month period ended June 30,</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2014</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">2015</div>
</td>
<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Income / (Loss):</div>
</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"></div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: right"></div>
</td>
<td style="VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Net&#160; income / (loss)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(3,870</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(105,197</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Basic&#160; earnings/&#160; (loss) per share:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Weighted average common shares outstanding, basic</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">28,973,621</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">171,736,658</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Basic earnings&#160; (loss) per share</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(0.13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(0.61</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Effect of dilutive securities:</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Dilutive effect of non-vested shares</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">-</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Weighted average common shares outstanding, diluted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">28,973,621</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">171,736,658</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Diluted&#160; earnings / (loss) per share</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(0.13</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">(0.61</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">For the six month periods ended June 30, 2014 and 2015, and on the basis that the Company incurred a net loss, the effect of 412,834 and 676,150, respectively, non-vested shares, as well as the effect of 521,250 non-vested share options as of June 30, 2015, would be anti-dilutive; therefore &#8220;Basic earnings / (loss) per share&#8221; equals &#8220;Diluted earnings&#160; / (loss) per share&#8221;.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">STAR BULK CARRIERS CORP.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">12.</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: normal; TEXT-ALIGN: left">Equity Incentive Plans:</div>
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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Details of the Company&#8217;s 2013 and 2014 Equity Incentive Plans and share awards granted up to December 31, 2014 are discussed in Note 14 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2014, included in the Company&#8217;s annual report on Form 20-F, filed with the SEC on April&#160;8, 2015.</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On April 13, 2015 the Company&#8217;s Board of Directors adopted the 2015 Equity Incentive Plan and reserved for issuance 1,400,000 common shares thereunder. In addition, on the same date, 676,150 restricted common shares were granted to certain directors, former directors, officers and employees, which will vest on April 13, 2016. The fair value of each restricted share was $3.55, which was determined by reference to the closing price of the Company&#8217;s common shares on the grant date.</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">On April 13, 2015, the Company&#8217;s Board of Directors also added share options to the Company&#8217;s executive compensation strategy in order to attract and retain executives and to motivate them to execute the Company&#8217;s business plan. On the same date, the Board of Directors granted share purchase options of up to 521,250 common shares to certain executive officers, at an option exercise price of $5.50 per share. These options are exercisable in whole or in part between the third and the fifth anniversary of the grant date, subject to the respective individuals remaining employed by the Company at the time the options are exercised.</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The fair value of all share option awards was calculated based on the modified Black-Scholes method. A description of the significant assumptions used to estimate the fair value of the share option awards is set out below:</div>

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<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Option type:</font> Bermudan call option</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Grant Date: </font>April 13, 2015</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Expected term:</font>&#160;Given the absence of expected dividend payments (discussed below), the Company expects that it is optimal for the holders of the granted options to avoid early exercise of the options. As a result, the Company assumes that the expected term of the options is their contractual term (i.e. five years from the grant date).</td>
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<td style="WIDTH: 36pt">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Expected volatility:</font>&#160;The Company used the historical volatility of the common shares to estimate the volatility of the price of the shares underlying the share option awards. The final expected volatility estimate, which is based on historical volatility for the two years preceding the grant date, was 59.274%.</td>
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<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Expected dividends:</font>&#160;The Company does not currently pay any dividends to its shareholders, and the Company&#8217;s loan agreements contain restrictions and limitations on dividend payments. Based on the foregoing, the outstanding newbuilding orderbook of the Company and the market conditions prevailing currently in the dry bulk industry, the Company&#8217;s management determined for purposes of this calculation that the Company is not expected to pay dividends before the expiration of the share options.</td>
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<table id="54e809bc9a784cfe8fcc0b02bcc9bc3b" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Dilution adjustment: </font>Compared to the number of common shares outstanding, the Company&#8217;s management considers the overall number of shares covered by the options as immaterial, so no dilution adjustment was incorporated in the valuation model.</td>
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<div style="MARGIN-BOTTOM: 6pt; TEXT-ALIGN: justify">
<table id="fdaabbd251924552b2d1b068313eea87" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="WIDTH: 36pt">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: Wingdings; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">&#167;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Risk-free rate:</font>&#160;The Company has elected to employ the risk-free yield-to-maturity rate to match the expected term of the options (which as explained above is five years from the grant date). As of the grant date, the yield-to-maturity rate of five-year U.S. Government bonds was approximately 1.3%.</td>
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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">All non vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared.&#160; The dividends with respect to these shares are forfeitable. Share options have no voting or other shareholder rights.</div>

<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company currently expects that there will be no forfeitures of non-vested shares or options.&#160; The shares which are issued in accordance with the terms of the Company&#8217;s equity incentive plans or awards remain restricted until they vest.&#160; For the six month periods ended June 30, 2014 and 2015, total share based compensation cost was $1,903 and $1,407, respectively, and is included under &#8220;General and administrative expenses&#8221; in the accompanying unaudited interim condensed consolidated statements of operations.</div>

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<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-29</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

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<div style="MARGIN-BOTTOM: 6pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">A summary of the status of the Company&#8217;s non-vested share options and restricted shares as of June 30, 2015 and the movement during the six month periods ended June 30, 2014 and 2015, respectively, is presented below.</div>

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&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Options</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Shares</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Weighted average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">exercise price</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Weighted Average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Grant Date </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">Fair Value</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Outstanding at January 1, 2015</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">-</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: left">Granted</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">521,250</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">5.5</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000">1.4121</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
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<td style="WIDTH: 15%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000; TEXT-ALIGN: left">Outstanding as of June 30, 2015</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">521,250</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">5.5</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">$</div>
</td>
<td style="WIDTH: 10%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; COLOR: #000000">1.4121</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt">&#160;</div>

<div>
<table id="a0a8914866c54a7c94496b43110e99a5" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 90%" cellspacing="0" cellpadding="0" align="center" border="0">
<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Number </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">of shares</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">Weighted </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">Average </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">Grant Date </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right">Fair Value</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: middle" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Unvested as at January 1, 2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">276,667</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7.46</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Granted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">402,167</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">10.86</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Vested</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(266,000</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7.65</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Unvested as at June 30, 2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">412,834</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">10.65</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">&#160;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Unvested as at January 1, 2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">394,167</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">10.86</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Granted</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">676,150</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3.55</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left">Vested</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(394,167</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">10.86</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 60%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Unvested as at June 30, 2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">676,150</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">3.55</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The estimated compensation cost relating to non-vested share option and restricted share awards not yet recognized was $704 and $1,884, respectively, as of June 30, 2015 and is expected to be recognized over the weighted average period of 4.79 years and 0.79 years, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-30</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>

<div style="MARGIN-BOTTOM: 12pt">
<div>
<table id="739fb1de876e4cb0b0d42dbd205e9e6a" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">13.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Commitments and Contingencies:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-INDENT: 18pt"><font style="FONT-FAMILY: 'Times New Roman'"><strong>&#160; </strong><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">a)</font></font><font style="FONT-SIZE: 6pt">&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Lease commitments</font></div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; TEXT-INDENT: 36pt">The following table sets forth inflows or outflows, related to the Company&#8217;s leases, as at June 30, 2015.</div>

<div>
<table id="051cf091ca084b71b6e48590b22fa1c6" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 20%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: middle; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="26">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: center">Twelve month periods ending June 30,</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left">
<div style="FONT-STYLE: italic">+ inflows/ - outflows</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">Total</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">2016</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">2017</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">2018</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">2019</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">2020</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: center" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: center" colspan="2">
<div style="FONT-WEIGHT: bold">2021 and thereafter</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: left; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Future, minimum, non-cancellable charter revenue (1)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>48,008</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>47,258</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>750</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 28px">
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: middle; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="TEXT-ALIGN: justify; MARGIN-LEFT: 9pt; TEXT-INDENT: -9pt">Bareboat capital leases - upfront hire &amp; handling fees (2)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(13,613</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(12,269</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>(1,344</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div>-</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="TEXT-ALIGN: justify">Bareboat commitments charter hire (3)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(364,854</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(4,803</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(26,123</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(27,219</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(27,151</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(27,488</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div>(252,070</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div>)</div>
</td>
</tr>

<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 20%; VERTICAL-ALIGN: middle; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold; TEXT-ALIGN: justify">Total</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(330,459</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">30,186</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(26,717</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(27,219</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(27,151</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(27,488</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-WEIGHT: bold">)</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">$&#160;</div>
</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 7%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-WEIGHT: bold">(252,070</div>
</td>
<td style="FONT-SIZE: 10pt; WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-FAMILY: 'Times New Roman', serif; FONT-WEIGHT: bold">)</div>
</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 4px"><br />
_________________</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="4390eaecc1bb491aa036c1cf08c5048c" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(1)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The amounts represent the minimum contractual charter revenues to be generated from the existing, as of June 30, 2015, non-cancellable time and freight charter until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim and special surveys of the vessels.</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="8bedbd2b5425476d9e7a88b6f78c3c1f" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(2)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">
<div>The amounts represent the Company&#8217;s commitments under the bareboat lease arrangements representing the upfront hire and handling fees for those vessels being, as of June 30, 2015, under construction. </div>

<div>&#160;</div>
</td>
</tr>
</table>

<table id="7679c755555340f19a07d411b4037998" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; align: right">(3)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of June 30, 2015, under construction. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month Libor rate of 0.4449%, as of June 30, 2015 (please refer to Note 6).</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">&#160; b)</font><font style="FONT-SIZE: 6pt">&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Legal proceedings</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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&#8217;s vessels.&#160; The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure.&#160; Currently, management is not aware of any such claims or contingent liabilities, for which it has not accrued for, requiring disclosure in the accompanying unaudited interim condensed consolidated financial statements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company&#8217;s vessels are covered for pollution in the amount of $1 billion of insurance per vessel per incident, by the Protection and Indemnity (P&amp;I) Association in which the Company&#8217;s vessels are entered. The Company&#8217;s vessels are subject to calls payable to their P&amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims.&#160; Such estimates are adjusted each year by the board of directors of the P&amp;I Association until the closing of the relevant policy year, which generally occurs within three years from the end of the policy year.&#160; 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 condensed consolidated financial statements.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As described on Item 8 of the Company&#8217;s the Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the SEC on April 8, 2015, on October&#160;23, 2014, a purported shareholder of the Company filed a derivative and putative class action lawsuit in New&#160;York state court against the Company&#8217;s Chief Executive Officer, members of its Board of Directors and several of its shareholders and related entities, and on March 4, 2015, the Company and the other defendants moved to dismiss the complaint. A judgment on the motion to dismiss is expected to be completed by October 2015. The motion is pending.&#160; All discovery deadlines have been stayed pending resolution of the motion.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-31</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify; MARGIN-LEFT: 18pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">&#160; c)</font><font style="FONT-SIZE: 6pt">&#160;&#160;&#160;&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">Contingencies relating to Heron</font></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">Following the completion of the Merger, Oceanbulk Shipping became a wholly owned subsidiary of the Company. Oceanbulk Shipping owned an outstanding loan receivable of $23,680 from Heron, which was convertible into 50% of Heron&#8217;s equity. After the conversion of the loan, on November 5, 2014, Heron became a 50-50 joint venture between Oceanbulk Shipping and ABY Group Holding Limited, and Oceanbulk Shipping shares joint control over Heron with ABY Group Holding Limited. Based on the applicable related agreements, neither party will entirely control Heron. In addition, any operational and other decisions with respect to Heron will need to be jointly agreed between Oceanbulk Shipping and ABY Group Holding Limited. As of June 30, 2015, all vessels previously owned by Heron had been either sold or distributed to its equity holders. While Oceanbulk Shipping and ABY Group Holding Limited intend that Heron eventually will be dissolved shortly after local authorities permit, until that occurs, contingencies to the Company may arise. However, the pre-transaction investors in Heron will effectively remain as ultimate beneficial owners of Heron, until Heron is dissolved on the basis that, according to the Merger Agreement, any cash received from the final liquidation of Heron will be transferred to the Sellers. As further disclosed in Note 9 of the Company&#8217;s consolidated financial statements for the year ended December 31, 2014, included in the Company&#8217;s annual report on Form 20-F, the Company entered into a loan agreement with CiT Finance LLC for an amount of $25,311, to finance the cash portion of the acquisition of the Heron Vessels and drew this amount in December 2014, upon the acquisition of the Heron Vessels. As of December 31, 2014 and June 30, 2015, the Company had an outstanding payable of $1,689 and 50, respectively, to the Sellers which is included under &#8220;Due to related parties&#8221; in the accompanying balance sheets.</div>

<div>
<table id="a8a2b4dcf5114f21baa5647836fb76ed" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">14.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">Fair value measurements:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &#8220;<font style="FONT-SIZE: 10pt; FONT-STYLE: italic">Derivatives and Hedging</font>&#8221;.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify"><u>Fair value on a recurring basis:</u></div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Interest rate swaps</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The Company enters into 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.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In June&#160;2013, the Company entered into two interest rate swap agreements with Credit Agricole Corporate and Investment Bank (the &#8220;Credit Agricole Swaps&#8221;) to fix forward its floating interest rate liabilities under the two tranches of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Borealis</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Polaris</font> tranches, respectively, of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were effective by November&#160;and August&#160;2014, respectively, and mature in August&#160;and November&#160;2018. Under the terms of the Credit Agricole Swaps, the Company pays on a quarterly basis a fixed rate of 1.705% and 1.720% per annum, respectively, while receiving a variable amount equal to the three month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2015, the notional amount of these swaps was $25,869 and $27,129, for the <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Borealis</font> and the <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Polaris</font>, respectively.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In addition, on April&#160;28, 2014, the Company entered into two interest rate swap agreements (the &#8220;HSH Swaps&#8221;) to fix forward 50% of its floating interest rate liabilities for the HSH Nordbank $35,000 Facility. The HSH Swaps came into effect in September&#160;2014 and mature in September&#160;2018. Under the terms of the HSH Swaps, the Company pays on a quarterly basis a fixed rate of 1.765% per annum, while receiving a variable amount equal to the three month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2015, the notional amount of these swaps was $15,990.</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Up to August&#160;31, 2014, the Credit Agricole Swaps and the HSH Swaps were not designated as accounting hedges. As a result, the changes in their fair value at each reporting period up to that date, were reported in earnings under &#8220;Gain/(Loss) on derivative financial instruments, net&#8221;. On August&#160;31, 2014 the Company designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC 815, &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Derivatives and Hedging</font>&#8221;. Accordingly, in the accompanying unaudited statement of operations for the relevant period, the effective portion of these cash flow hedges is reported in &#8220;Accumulated other comprehensive loss&#8221;, while the ineffective portion of these cash flow hedges is reported under &#8220;Gain / (Loss) on derivative financial instruments, net&#8221;.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">As part of the Merger, the Company acquired five swap agreements that Oceanbulk Shipping had entered during the third quarter of 2013 with Goldman Sachs Bank USA (the &#8220;Goldman Sachs Swaps&#8221;).&#160; The Goldman Sachs Swaps were effective by October 2014 and mature in April 2018. Under their terms, Oceanbulk Shipping makes quarterly payments to the counterparty at fixed rates ranging between 1.79% and 2.07% per annum, based on an aggregate notional amount that varies. From July&#160;1, 2015 to October&#160;1, 2015, this notional amount reached an upper limit of $461,264. The counterparty makes quarterly floating rate payments at three-month LIBOR to the Company based on the same notional amount. Upon the completion of the Merger, on July&#160;11, 2014, the Company re-designated the Goldman Sachs Swaps as cash flow hedges in accordance with ASC 815. Accordingly, the effective portion of these cash flow hedges from that date and until March 31, 2015 (see below) were reported in &#8220;Accumulated other comprehensive loss&#8221;, while the ineffective portion of these cash flow hedges was reported as gain under &#8220;Gain /(Loss) on derivative financial instruments, net&#8221;, in the statement of operations for the relevant period. As of June 30, 2015, the notional amount of these swaps was $343,533.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">Due to (i) changes in the timing of delivery of some of the Company&#8217;s newbuilding vessels and, by extension, the timing of some of the forecasted transactions, (ii) changes in LIBOR curves, and (iii) the sale of some of the Company&#8217;s vessels in the second quarter of 2015 whose loans had been designated as hedged items, the &#8220;highly effective&#8221; criterion of the hedging effectiveness test for the Goldman Sachs Swaps was not satisfied for the quarter ended June 30, 2015, based on the Company&#8217;s documented method for assessing hedge effectiveness. As a result, the hedging relationship related to the Goldman Sachs Swaps no longer qualify for special hedge accounting, and as of April 1, 2015, the Company de-designated the cash flow hedge related to the Goldman Sachs Swaps. As a result, changes in the fair value of these swaps since the date of de-designation, April 1, 2015, were reported in earnings under &#8220;Gain / (Loss) on derivative financial instruments, net&#8221;. The amount already reported up to March 31, 2015 in &#8220;Accumulated other comprehensive loss&#8221; with respect to the corresponding swaps of $3,639 will remain there and will be reclassified to earnings when the hedged forecasted transaction impacts the Company&#8217;s earnings (i.e., when the hedged loan interest is incurred), except for $227 related to loans of the sold vessels discussed above that were written down to earnings in the period ended June 30, 2015, for which the forecasted transactions are no longer expected to occur.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The amount recognized in Other comprehensive income/(loss) is derived from the effective portion of unrealized losses from cash flow hedges.</div>

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<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The amounts of Gain /(Loss) on derivative financial instruments recognized in the accompanying unaudited interim condensed consolidated statements of operations are analyzed as follows:</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

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<table id="6b8b3a9b896e42f783ad9b9de6ea1ff0" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
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<td style="VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Unaudited Condensed Consolidated Statement of Operations</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30,</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2014</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30,</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">2015</div>
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<tr>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Gain/(loss) on derivative instruments, net</div>
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<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">&#160;&#160; before hedging designation (August&#160;31, 2014)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">&#160;&#160; of accounting hedging relationship (April 1, 2015)</div>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">883</div>
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<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">&#160;&#160; accounting hedging relationship (April 1, 2015)</div>
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</td>
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<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">Write-off of unrealized losses related to forecasted transactions which are no longer </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 18pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -9pt">&#160;&#160; considered probable reclassified from other comprehensive income/(loss)</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(227</div>
</td>
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</td>
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<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -1.8pt">Ineffective portion of cash flow hedges<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
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<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Total Gains/(Losses) on derivative instruments, net<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(819</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
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</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(688</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; FONT-STYLE: italic; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Interest and finance costs</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 22.5pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -13.5pt">Reclassification adjustments of interest rate swap loss transferred to Interest and </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: left; MARGIN-LEFT: 22.5pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -13.5pt">&#160;&#160; finance costs from Other comprehensive income/(loss)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(1,491</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>

<tr>
<td style="WIDTH: 76%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Total Gains/(Losses) recognized<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
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<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">(1,491</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">)</div>
</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">An amount of approximately ($1,061) is expected to be reclassified into earnings during the following 12-month period when realized.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">In relation to the above interest rate swap agreements designated as cash flow hedges and the corresponding amount recorded in &#8220;Accumulated other comprehensive loss&#8221; as of June 30, 2015, and in accordance with ASC 815 &#8220;<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction</font>,&#8221; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis.&#160; This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values.&#160; The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="030ff3ac468a4341809f398966959ca5" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 54pt; VERTICAL-ALIGN: top; align: right"><u>Level 1:</u></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Quoted market prices in active markets for identical assets or liabilities</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="f511d78765d349149a12fc5e5b8215ac" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 54pt; VERTICAL-ALIGN: top; align: right"><u>Level 2:</u></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Observable market-based inputs or unobservable inputs that are corroborated by market data</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="e1aee3fb0d6645609861b3775b24a4b8" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 54pt; VERTICAL-ALIGN: top; align: right"><u>Level 3:</u></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; TEXT-ALIGN: justify">Unobservable inputs that are not corroborated by market data</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The following table summarizes the valuation of the Company&#8217;s financial instruments as of December 31, 2014 and June 30, 2015 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">&#160;</div>

<div id="DSPFPageBreakArea" style="MARGIN-BOTTOM: 10pt; CLEAR: both; MARGIN-TOP: 10pt">
<div id="DSPFPageNumberArea" style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; COLOR: #000000; TEXT-ALIGN: center">F-34</div>

<div id="DSPFPageBreak" style="PAGE-BREAK-AFTER: always">
<hr style="BORDER-LEFT-WIDTH: 0px; HEIGHT: 2px; BORDER-RIGHT-WIDTH: 0px; WIDTH: 100%; BORDER-BOTTOM-WIDTH: 0px; COLOR: #000000; CLEAR: both; MARGIN: 4px 0px; BORDER-TOP-WIDTH: 0px; BACKGROUND-COLOR: #000000" noshade="noshade" />
</div>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">&#160;</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Notes to Unaudited Interim Condensed Consolidated Financial Statements</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: left">June 30, 2015</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">(Expressed in thousands of U.S. dollars except for share and per share data, unless otherwise stated)</div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal; FONT-STYLE: italic; TEXT-ALIGN: left">&#160;</div>
</div>
</div>

<div>
<table id="6c95c1377e2d4d1ca2e3a3f37f8a6c69" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0" border="0">
<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="14">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">Significant Other Observable Inputs (Level 2)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr style="HEIGHT: 14px">
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">December 31, 2014</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="6">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">June 30, 2015</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(not designated </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">as cash flow </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(designated </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">as cash flow </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(not designated </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">as cash flow </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid" valign="bottom" colspan="2">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">(designated </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">as cash flow </div>

<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">hedges)</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">ASSETS</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: top" valign="bottom" colspan="2"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom" valign="bottom">&#160;</td>
<td style="VERTICAL-ALIGN: bottom" valign="bottom" colspan="2"></td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Interest rate swaps - asset position<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Total<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">LIABILITIES</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Interest rate swaps - liability position<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">7,732</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">9,819</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; BACKGROUND-COLOR: #ffffff" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 2px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">1,081</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 2px; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>

<tr>
<td style="WIDTH: 40%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify; MARGIN-LEFT: 10.8pt; MARGIN-RIGHT: 10.8pt; TEXT-INDENT: -10.8pt">Total<font style="FONT-SIZE: 6pt">&#160;&#160;</font></div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">&#8212;</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">7,732</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">9,819</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; BACKGROUND-COLOR: #c6f4f9" valign="bottom">&#160;</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">$</div>
</td>
<td style="WIDTH: 9%; VERTICAL-ALIGN: bottom; BORDER-BOTTOM: #000000 4px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #c6f4f9" valign="bottom">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold">1,081</div>
</td>
<td style="WIDTH: 1%; VERTICAL-ALIGN: bottom; PADDING-BOTTOM: 4px; TEXT-ALIGN: left; BACKGROUND-COLOR: #c6f4f9" valign="bottom" nowrap="nowrap">&#160;</td>
</tr>
</table>
</div>

<div><br />
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">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.&#160; The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2015.</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">The 8.00% 2019 Notes have a fixed rate, and their estimated fair value, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), is approximately $44,360 as of June 30, 2015.</div>

<div>
<table id="c6a264fcaa064015ab3bda4d4b6e8f44" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr style="VERTICAL-ALIGN: top">
<td style="WIDTH: 36pt; VERTICAL-ALIGN: top; align: right">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">15.</div>
</td>
<td style="WIDTH: auto; VERTICAL-ALIGN: top; align: left">
<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Subsequent Events:</div>
</td>
</tr>
</table>
</div>

<div>&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-ALIGN: justify">
<table id="ccd643b66bcb46f19ee2b991d5db4fa2" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">a)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Negotiated vessel delivery delays</td>
</tr>
</table>
</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 37.35pt">The Company has recently reached an agreement in principle with certain shipyards to further defer the delivery of certain of its newbuilding vessels for periods ranging from one to five months. These agreements are subject to execution of final documentation by both parties.</div>

<div style="TEXT-ALIGN: justify">
<table id="4df170d6927646a7bd9ef2850a38521e" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">b)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Agreement to reduce the purchase price of certain newbuilding vessels</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 37.35pt">In July 2015, the Company has reached an agreement in principle with certain shipyards to reduce the purchase price of certain of its newbuilding vessels. The aggregate reduction agreed was $25,828 and will be set off against the remaining newbuilding payments. These agreements are subject to execution of final documentation by both parties.</div>

<div style="TEXT-ALIGN: justify">
<table id="71dbcc60cfa34581b3ca5a1b703f7538" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">c)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Sale of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Natalie</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Claudia</font></td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 37.35pt">On August 6, 2015 and August 10, 2015 the Company entered into separate agreements with third parties to sell the vessels <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Natalie</font> and <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Star Claudia</font>, respectively, at market terms. The vessels were delivered to their new owners on August 26, 2015, and September 2, 2015, respectively.</div>

<div style="TEXT-ALIGN: justify">
<table id="543d537e48bd4ddfb777e934c6e9f651" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: 18pt; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; align: right">d)</td>
<td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WIDTH: auto; VERTICAL-ALIGN: top; FONT-WEIGHT: bold; TEXT-ALIGN: justify">Sale of <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maiden Voyage</font> and agreement to charter back the vessel for two years</td>
</tr>
</table>
</div>

<div style="TEXT-ALIGN: justify">&#160;</div>

<div style="MARGIN-BOTTOM: 12pt; FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; MARGIN-LEFT: 37.35pt">On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel <font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-STYLE: italic">Maiden Voyage</font>, at market terms. The Company has agreed to charter back the vessel for a period of two years. The vessel was delivered to its new owners on September 15, 2015, and the Company became the charterer of the vessel on the same date (please see Note 5).</div>

<div style="TEXT-ALIGN: justify">
<table id="d0492413416b4f7e831ccdc5daf0f07f" class="DSPFListTable" style="FONT-SIZE: 10pt; FONT-FAMILY: Arial; WIDTH: 100%" cellspacing="0" cellpadding="0">
<tr>
<td style="WIDTH: 36pt"></td>
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<div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: justify">STAR BULK CARRIERS CORP.</div>

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&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;text-indent:56.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's transactions with related parties are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F. In addition to those transactions, three of the Excel Vessels (Christine (tbr Star Martha), Star Pauline and Star Despoina), which were acquired with attached time charters, are managed by Maryville Maritime Inc. (&amp;#147;Maryville&amp;#148;), a subsidiary of Excel. &amp;#160;Maryville is managing these three vessels until the expiration of their existing time charter agreements (two of which expired in August 2015 and one which expires in October 2015) at a monthly fee of $17.5 per vessel.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:56.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Transactions and balances with related parties are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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;
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  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Balance Sheet&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt; 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30,&lt;br/&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;241&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Product Shipping &amp;amp; Trading S.A.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;245&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&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:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;671&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:solid #000000 0.0px;width:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Interchart Shipping Inc. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;6&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;6&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Combine Marine Ltd.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management and Directors Fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;314&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Managed Vessels of Oceanbulk Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;7&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Oceanbulk Sellers (Note 13) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,689&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;50&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Maryville Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;514&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;2,166&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;900&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Excel Vessel Bridge Facility outstanding balance&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:24px;"&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30, &lt;br/&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;8,168&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;non- current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;47,993&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total Excel Vessel Bridge Facility &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;56,161&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;-&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;&amp;#160;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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31, &lt;br/&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30, &lt;br/&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Advances for vessels under construction and acquisition of vessels &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:106px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Oceanbulk Maritime S.A.- commission fee for newbuilding vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,038&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,557&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Statements of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="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:357px;height:34px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:229px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Voyage expenses-Interchart &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(385&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(1,650&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Executive directors consultancy fees &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(286&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(317&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Non-executive directors compensation &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(71&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(79&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Office rent - Combine Marine Ltd. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(21&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee expense - Maryville Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&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:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Interest on Excel Vessel Bridge Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(220&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee income - Oceanbulk Maritime S.A. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;93&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee income - Managed Vessels of Oceanbulk Shipping &lt;br/&gt;LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,299&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee income Product Shipping &amp;amp; Trading S.A. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;62&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;13.&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="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a) &amp;#160;Lease commitments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;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-align:justify;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The following table sets forth inflows or outflows, related to the Company's leases, as at June 30, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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="bottom" style=" border:solid #000000 0.0px;width:198px;height:9px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="7" style=" border:solid #000000 0.0px;width:419px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;plus inflows/ minus outflows&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2020&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2021 and &lt;br/&gt;thereafter&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:10px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Future, minimum, non-cancellable charter revenue (1) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$48,008&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$47,258&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$750&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Bareboat capital leases - upfront hire &amp;amp; handling &lt;br/&gt;fees (2) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(13,613&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(12,269)&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(1,344&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)-&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:10px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Bareboat commitments charter hire (3) &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:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(364,854&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:51px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(4,803)&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:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(26,123&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:56px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(27,219)&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:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(27,151&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:56px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(27,488)&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:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(252,070&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($330,459)&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:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$30,186&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($26,717)&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($27,219)&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($27,151)&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($27,488)&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:double #000000 3.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($252,070)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:10px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:9px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:35px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(1) &amp;#160;The amounts represent the minimum contractual charter revenues to be generated from the existing, as of June 30, 2015, non-cancellable time and freight charter until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim and special surveys of the vessels.&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:35px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(2) The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire and handling fees for those vessels being, as of June 30, 2015, under construction. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;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:198px;height:4px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:9px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(3) &amp;#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of June 30, 2015, under construction. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month Libor rate of 0.4449%, as of June 30, 2015 (please refer to Note 6).&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:198px;"&gt;&lt;/td&gt;
    &lt;td style="width:62px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:78px;"&gt;&lt;/td&gt;
    &lt;td style="width:14px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b) &amp;#160;Legal proceedings&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;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. &amp;#160;The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. &amp;#160;Currently, management is not aware of any such claims or contingent liabilities, for which it has not accrued for, requiring disclosure in the accompanying unaudited interim condensed consolidated financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company's vessels are covered for pollution in the amount of $1 billion of insurance 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. &amp;#160;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. &amp;#160;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 condensed consolidated financial statements. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:40.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As described on Item 8 of the Company's the Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the SEC on April 8, 2015, on October 23, 2014, a purported shareholder of the Company filed a derivative and putative class action lawsuit in New York state court against the Company's Chief Executive Officer, members of its Board of Directors and several of its shareholders and related entities, and on March 4, 2015, the Company and the other defendants moved to dismiss the complaint. A judgment on the motion to dismiss is expected to be completed by October 2015. The motion is pending. &amp;#160;All discovery deadlines have been stayed pending resolution of the motion.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c) &amp;#160;Contingencies relating to Heron&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Following the completion of the Merger, Oceanbulk Shipping became a wholly owned subsidiary of the Company. Oceanbulk Shipping owned an outstanding loan receivable of $23,680 from Heron, which was convertible into 50% of Heron's equity. After the conversion of the loan, on November 5, 2014, Heron became a 50-50 joint venture between Oceanbulk Shipping and ABY Group Holding Limited, and Oceanbulk Shipping shares joint control over Heron with ABY Group Holding Limited. Based on the applicable related agreements, neither party will entirely control Heron. In addition, any operational and other decisions with respect to Heron will need to be jointly agreed between Oceanbulk Shipping and ABY Group Holding Limited. As of June 30, 2015, all vessels previously owned by Heron had been either sold or distributed to its equity holders. While Oceanbulk Shipping and ABY Group Holding Limited intend that Heron eventually will be dissolved shortly after local authorities permit, until that occurs, contingencies to the Company may arise. However, the pre-transaction investors in Heron will effectively remain as ultimate beneficial owners of Heron, until Heron is dissolved on the basis that, according to the Merger Agreement, any cash received from the final liquidation of Heron will be transferred to the Sellers. As further disclosed in Note 9 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, the Company entered into a loan agreement with CiT Finance LLC for an amount of $25,311, to finance the cash portion of the acquisition of the Heron Vessels and drew this amount in December 2014, upon the acquisition of the Heron Vessels. As of December 31, 2014 and June 30, 2015, the Company had an outstanding payable of $1,689 and 50, respectively, to the Sellers which is included under &amp;#147;Due to related parties&amp;#148; in the accompanying balance sheets.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
  <us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock contextRef="FYp0YTD">&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="bottom" style=" border:solid #000000 0.0px;width:198px;height:9px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="7" style=" border:solid #000000 0.0px;width:419px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending June 30,&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:198px;height:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;plus inflows/ minus outflows&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2016&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2017&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2018&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2019&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2020&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;2021 and &lt;br/&gt;thereafter&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:198px;height:10px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Future, minimum, non-cancellable charter revenue (1) &lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$48,008&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$47,258&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$750&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;$ -&lt;/i&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:198px;height:17px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Bareboat capital leases - upfront hire &amp;amp; handling &lt;br/&gt;fees (2) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(13,613&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(12,269)&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(1,344&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)-&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:198px;height:10px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Bareboat commitments charter hire (3) &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:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(364,854&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:51px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(4,803)&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:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(26,123&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:56px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(27,219)&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:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(27,151&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:56px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)(27,488)&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:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;(252,070&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:62px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($330,459)&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:double #000000 3.0px;width:51px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;$30,186&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($26,717)&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($27,219)&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($27,151)&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:double #000000 3.0px;width:56px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($27,488)&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:double #000000 3.0px;width:78px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;($252,070)&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:198px;height:10px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:justify;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:198px;height:9px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:35px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(1) &amp;#160;The amounts represent the minimum contractual charter revenues to be generated from the existing, as of June 30, 2015, non-cancellable time and freight charter until their expiration, net of address commission, assuming no off-hire days other than those related to scheduled interim and special surveys of the vessels.&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:35px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(2) The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire and handling fees for those vessels being, as of June 30, 2015, under construction. &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:198px;height:4px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:9px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(3) &amp;#160;The amounts represent the Company's commitments under the bareboat lease arrangements representing the charter hire for those vessels being, as of June 30, 2015, under construction. The bareboat charter hire is comprised of fixed and variable portion, the variable portion is calculated based on the 6-month Libor rate of 0.4449%, as of June 30, 2015 (please refer to Note 6).&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:198px;"&gt;&lt;/td&gt;
    &lt;td style="width:62px;"&gt;&lt;/td&gt;
    &lt;td style="width:51px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:56px;"&gt;&lt;/td&gt;
    &lt;td style="width:78px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ContractualObligationFiscalYearMaturityScheduleTableTextBlock>
  <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="FYp0YTD">&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Balance Sheet&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt; 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30,&lt;br/&gt;2015&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Oceanbulk Maritime S.A. and its affiliates&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;241&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;667&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Product Shipping &amp;amp; Trading S.A.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;4&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total Assets&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;245&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&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:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;671&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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:solid #000000 0.0px;width:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Interchart Shipping Inc. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;6&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;6&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Combine Marine Ltd.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;9&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management and Directors Fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;314&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Managed Vessels of Oceanbulk Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;9&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;7&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Oceanbulk Sellers (Note 13) &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,689&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;50&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Maryville Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;514&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total Liabilities&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;2,166&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;900&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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Excel Vessel Bridge Facility outstanding balance&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="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:357px;height:24px;"&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31,&lt;br/&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30, &lt;br/&gt;2015&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;8,168&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Excel Vessel Bridge Facility -&amp;#160;non- current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;47,993&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Total Excel Vessel Bridge Facility &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;56,161&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:double #000000 3.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;&amp;#160;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:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;December 31, &lt;br/&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;June 30, &lt;br/&gt;2015&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Advances for vessels under construction and acquisition of vessels &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:22px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:106px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Oceanbulk Maritime S.A.- commission fee for newbuilding vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,038&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,557&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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Statements of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="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:357px;height:34px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:229px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&lt;b&gt;2015&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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Voyage expenses-Interchart &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(385&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(1,650&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Executive directors consultancy fees &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(286&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(317&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Non-executive directors compensation &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(71&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(79&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Office rent - Combine Marine Ltd. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(21&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(17&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee expense - Maryville Maritime Inc.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:16px;"&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:22px;"&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:106px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;-&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Interest on Excel Vessel Bridge Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;(220&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee income - Oceanbulk Maritime S.A. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;93&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:24px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee income - Managed Vessels of Oceanbulk Shipping &lt;br/&gt;LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;1,299&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;Management fee income Product Shipping &amp;amp; Trading S.A. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;62&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:12.0px;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:357px;height:12px;"&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:16px;"&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:22px;"&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;"&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:14px;"&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:20px;"&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:64px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="FYp0YTD">&lt;div style="margin-top:12.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;12.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Equity Incentive Plans:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's 2013 and 2014 Equity Incentive Plans and share awards granted up to December 31, 2014 are discussed in Note 14 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, filed with the SEC on April&amp;#160;8, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:53.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On April 13, 2015 the Company's Board of Directors adopted the 2015 Equity Incentive Plan and reserved for issuance 1,400,000 common shares thereunder. In addition, on the same date, 676,150 restricted common shares were granted to certain directors, former directors, officers and employees, which will vest on April 13, 2016. The fair value of each restricted share was $3.55, which was determined by reference to the closing price of the Company's common shares on the grant date. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:53.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On April 13, 2015, the Company's Board of Directors also added share options to the Company's executive compensation strategy in order to attract and retain executives and to motivate them to execute the Company's business plan. On the same date, the Board of Directors granted share purchase options of up to 521,250 common shares to certain executive officers, at an option exercise price of $5.50 per share. These options are exercisable in whole or in part between the third and the fifth anniversary of the grant date, subject to the respective individuals remaining employed by the Company at the time the options are exercised. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:53.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The fair value of all share option awards was calculated based on the modified Black-Scholes method. A description of the significant assumptions used to estimate the fair value of the share option awards is set out below:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Option type:&lt;/i&gt; Bermudan call option&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Grant Date: &lt;/i&gt;April 13, 2015 &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Expected term:&lt;/i&gt;&amp;#160;Given the absence of expected dividend payments (discussed below), the Company expects that it is optimal for the holders of the granted options to avoid early exercise of the options. As a result, the Company assumes that the expected term of the options is their contractual term (i.e. five years from the grant date). &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Expected volatility:&lt;/i&gt;&amp;#160;The Company used the historical volatility of the common shares to estimate the volatility of the price of the shares underlying the share option awards. The final expected volatility estimate, which is based on historical volatility for the two years preceding the grant date, was 59.274%.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Expected dividends:&lt;/i&gt;&amp;#160;The Company does not currently pay any dividends to its shareholders, and the Company's loan agreements contain restrictions and limitations on dividend payments. Based on the foregoing, the outstanding newbuilding orderbook of the Company and the market conditions prevailing currently in the dry bulk industry, the Company's management determined for purposes of this calculation that the Company is not expected to pay dividends before the expiration of the share options.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Dilution adjustment: &lt;/i&gt;Compared to the number of common shares outstanding, the Company's management considers the overall number of shares covered by the options as immaterial, so no dilution adjustment was incorporated in the valuation model.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;margin-bottom:6.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;- Risk-free rate:&lt;/i&gt;&amp;#160;The Company has elected to employ the risk-free yield-to-maturity rate to match the expected term of the options (which as explained above is five years from the grant date). As of the grant date, the yield-to-maturity rate of five-year U.S. Government bonds was approximately 1.3%.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;All non vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. &amp;#160;The dividends with respect to these shares are forfeitable. Share options have no voting or other shareholder rights.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company currently expects that there will be no forfeitures of non-vested shares or options. &amp;#160;The shares which are issued in accordance with the terms of the Company's equity incentive plans or awards remain restricted until they vest. &amp;#160;For the six month periods ended June 30, 2014 and 2015, total share based compensation cost was $1,903 and $1,407, respectively, and is included under &amp;#147;General and administrative expenses&amp;#148; in the accompanying unaudited interim condensed consolidated statements of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;A summary of the status of the Company's non-vested share options and restricted shares as of June 30, 2015 and the movement during the six month periods ended June 30, 2014 and 2015, respectively, is presented below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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=" margin-left: 54.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:253px;height:11px;"&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:17px;"&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:58px;"&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:17px;"&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:21px;"&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:98px;"&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:17px;"&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:21px;"&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:54px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:34px;"&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:17px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:119px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted&amp;#160;average exercise price&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:75px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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="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:253px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Options&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:54px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:253px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Outstanding at January 1, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:54px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;521,250 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;5.5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:54px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1.4121 &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:253px;height:12px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Outstanding as of June 30, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:double #000000 3.0px;width:58px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;521,250&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:double #000000 3.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;5.5&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:double #000000 3.0px;width:54px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1.4121&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:253px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:54px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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=" margin-left: 34.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:38px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7.46&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:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;402,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.86&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(266,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7.65&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;412,834&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.65&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:364px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:364px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.86&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:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3.55&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.86&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3.55&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The estimated compensation cost relating to non-vested share option and restricted share awards not yet recognized was $704 and $1,884, respectively, as of June 30, 2015 and is expected to be recognized over the weighted average period of 4.79 years and 0.79 years, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock contextRef="FYp0YTD__RestrictedStockMember">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:38px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Number of shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;276,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7.46&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:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;402,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.86&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(266,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7.65&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;412,834&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.65&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:364px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:364px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at January 1, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.86&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:364px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3.55&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(394,167&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10.86&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:364px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unvested as at June 30, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:43px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:67px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;676,150&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:87px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3.55&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:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock contextRef="FYp0YTD__EmployeeStockOptionMember">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 54.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:253px;height:11px;"&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:17px;"&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:58px;"&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:17px;"&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:21px;"&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:98px;"&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:17px;"&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:21px;"&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:54px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:34px;"&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:17px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:58px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Shares&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:119px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Weighted&amp;#160;average exercise price&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" 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:75px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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="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:253px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Options&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:54px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:253px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Outstanding at January 1, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:54px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;521,250 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;5.5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:54px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1.4121 &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:253px;height:12px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Outstanding as of June 30, 2015&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:double #000000 3.0px;width:58px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;521,250&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:double #000000 3.0px;width:98px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;5.5&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;/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:double #000000 3.0px;width:54px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1.4121&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:253px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:58px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:54px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock>
  <us-gaap:SubsequentEventsTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;15.&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 60.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a) Negotiated vessel delivery delays&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company has recently reached an agreement in principle with certain shipyards to further defer the delivery of certain of its newbuilding vessels for periods ranging from one to five months. These agreements are subject to execution of final documentation by both parties. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b) Agreement to reduce the purchase price of certain newbuilding vessels &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In July 2015, the Company has reached an agreement in principle with certain shipyards to reduce the purchase price of certain of its newbuilding vessels. The aggregate reduction agreed was $25,828 and will be set off against the remaining newbuilding payments. These agreements are subject to execution of final documentation by both parties.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c) Sale of &lt;/b&gt;&lt;i&gt;&lt;b&gt;Star Natalie&lt;/b&gt;&lt;/i&gt;&lt;b&gt; and &lt;/b&gt;&lt;i&gt;&lt;b&gt;Star Claudia&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On August 6, 2015 and August 10, 2015 the Company entered into separate agreements with third parties to sell the vessels &lt;i&gt;Star Natalie&lt;/i&gt; and &lt;i&gt;Star Claudia&lt;/i&gt;, respectively, at market terms. The vessels were delivered to their new owners on August 26, 2015, and September 2, 2015, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;d) Sale of &lt;/b&gt;&lt;i&gt;&lt;b&gt;Maiden Voyage&lt;/b&gt;&lt;/i&gt;&lt;b&gt; and agreement to charter back the vessel for two years&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel &lt;i&gt;Maiden Voyage&lt;/i&gt;, at market terms. The Company has agreed to charter back the vessel for a period of two years. The vessel was delivered to its new owners on September 15, 2015, and the Company became the charterer of the vessel on the same date (please see Note 5).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;e) Vessel deliveries&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 64.3px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(i) On July 15, 2015, the Company took delivery of the Newcastlemax vessels &lt;i&gt;Goliath&lt;/i&gt; (ex HN 167) and &lt;i&gt;Maharaj &lt;/i&gt;(ex HN 184). The delivery instalments of $75, 364 million were partially financed by $60,600 drawn down under the DNB-SEB-CEXIM $227,500 Facility, and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 64.3px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii) On July 22, 2015, the Company took delivery of the Ultramax vessel &lt;i&gt;Star Aquarius&lt;/i&gt; (ex HN 5040). The delivery instalment of $20,359 was partially financed by $15,237 million drawn under the NIBC $32,000 Facility and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 64.3px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iii) On August 7, 2015, the Company took delivery of the Ultramax vessel &lt;i&gt;Star Pisces&lt;/i&gt; (ex HN 5043). The delivery instalment of $20,351 was partially financed by $15,237 million drawn under the NIBC $32,000 Facility, and the remaining amount was financed by using existing cash.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;f) Financing of HN 1343 (tbn &lt;/b&gt;&lt;i&gt;&lt;b&gt;Star Leo&lt;/b&gt;&lt;/i&gt;&lt;b&gt;)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 42.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On August 31, 2015, the Company entered into a 10-year lease arrangement with CSSC to finance up to $40,000 for the delivery installment of the HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Fair value measurements:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;. The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &amp;#147;&lt;i&gt;Derivatives and Hedging&lt;/i&gt;&amp;#148;.&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:Times New Roman;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Interest rate swaps&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company enters into 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.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In June&amp;#160;2013, the Company entered into two interest rate swap agreements with Credit Agricole Corporate and Investment Bank (the &amp;#147;Credit Agricole Swaps&amp;#148;) to fix forward its floating interest rate liabilities under the two tranches of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the Star Borealis and Star Polaris tranches, respectively, of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were effective by November&amp;#160;and August&amp;#160;2014, respectively, and mature in August&amp;#160;and November&amp;#160;2018. Under the terms of the Credit Agricole Swaps, the Company pays on a quarterly basis a fixed rate of 1.705% and 1.720% per annum, respectively, while receiving a variable amount equal to the three month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2015, the notional amount of these swaps was $25,869 and $27,129, for the Star Borealis and the Star Polaris, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, on April&amp;#160;28, 2014, the Company entered into two interest rate swap agreements (the &amp;#147;HSH Swaps&amp;#148;) to fix forward 50% of its floating interest rate liabilities for the HSH Nordbank $35,000 Facility. The HSH Swaps came into effect in September&amp;#160;2014 and mature in September&amp;#160;2018. Under the terms of the HSH Swaps, the Company pays on a quarterly basis a fixed rate of 1.765% per annum, while receiving a variable amount equal to the three month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2015, the notional amount of these swaps was $15,990.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Up to August&amp;#160;31, 2014, the Credit Agricole Swaps and the HSH Swaps were not designated as accounting hedges. As a result, the changes in their fair value at each reporting period up to that date, were reported in earnings under &amp;#147;Gain/(Loss) on derivative financial instruments, net&amp;#148;. On August&amp;#160;31, 2014 the Company designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC 815, &amp;#147;&lt;i&gt;Derivatives and Hedging&lt;/i&gt;&amp;#148;. Accordingly, in the accompanying unaudited statement of operations for the relevant period, the effective portion of these cash flow hedges is reported in &amp;#147;Accumulated other comprehensive loss&amp;#148;, while the ineffective portion of these cash flow hedges is reported under &amp;#147;Gain / (Loss) on derivative financial instruments, net&amp;#148;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As part of the Merger, the Company acquired five swap agreements that Oceanbulk Shipping had entered during the third quarter of 2013 with Goldman Sachs Bank USA (the &amp;#147;Goldman Sachs Swaps&amp;#148;). &amp;#160;The Goldman Sachs Swaps were effective by October 2014 and mature in April 2018. Under their terms, Oceanbulk Shipping makes quarterly payments to the counterparty at fixed rates ranging between 1.79% and 2.07% per annum, based on an aggregate notional amount that varies. From July&amp;#160;1, 2015 to October&amp;#160;1, 2015, this notional amount reached an upper limit of $461,264. The counterparty makes quarterly floating rate payments at three-month LIBOR to the Company based on the same notional amount. Upon the completion of the Merger, on July&amp;#160;11, 2014, the Company re-designated the Goldman Sachs Swaps as cash flow hedges in accordance with ASC 815. Accordingly, the effective portion of these cash flow hedges from that date and until March 31, 2015 (see below) were reported in &amp;#147;Accumulated other comprehensive loss&amp;#148;, while the ineffective portion of these cash flow hedges was reported as gain under &amp;#147;Gain /(Loss) on derivative financial instruments, net&amp;#148;, in the statement of operations for the relevant period. As of June 30, 2015, the notional amount of these swaps was $343,533.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Due to (i) changes in the timing of delivery of some of the Company's newbuilding vessels and, by extension, the timing of some of the forecasted transactions, (ii) changes in LIBOR curves, and (iii) the sale of some of the Company's vessels in the second quarter of 2015 whose loans had been designated as hedged items, the &amp;#147;highly effective&amp;#148; criterion of the hedging effectiveness test for the Goldman Sachs Swaps was not satisfied for the quarter ended June 30, 2015, based on the Company's documented method for assessing hedge effectiveness. As a result, the hedging relationship related to the Goldman Sachs Swaps no longer qualify for special hedge accounting, and as of April 1, 2015, the Company de-designated the cash flow hedge related to the Goldman Sachs Swaps. As a result, changes in the fair value of these swaps since the date of de-designation, April 1, 2015, were reported in earnings under &amp;#147;Gain / (Loss) on derivative financial instruments, net&amp;#148;. The amount already reported up to March 31, 2015 in &amp;#147;Accumulated other comprehensive loss&amp;#148; with respect to the corresponding swaps of $3,639 will remain there and will be reclassified to earnings when the hedged forecasted transaction impacts the Company's earnings (i.e., when the hedged loan interest is incurred), except for $227 related to loans of the sold vessels discussed above that were written down to earnings in the period ended June 30, 2015, for which the forecasted transactions are no longer expected to occur.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amount recognized in Other comprehensive income/(loss) is derived from the effective portion of unrealized losses from cash flow hedges. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amounts of Gain /(Loss) on derivative financial instruments recognized in the accompanying unaudited interim condensed consolidated statements of operations are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unaudited Condensed Consolidated Statement of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Gain/(loss) on derivative instruments, net&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:97px;"&gt;&lt;div style="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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&amp;#160;31, 2014)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(819)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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; &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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:solid #000000 0.0px;width:97px;"&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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;883&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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;(1,344)&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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(227&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-1.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Ineffective portion of cash flow hedges&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) on derivative instruments, net&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; (819)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;(688)&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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:97px;"&gt;&lt;div style="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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Interest and finance costs&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:97px;"&gt;&lt;div style="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:442px;"&gt;&lt;div style="margin-left: 30.0px;text-indent:-17.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,491&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) recognized&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;(1,491)&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:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;An amount of approximately ($1,061) is expected to be reclassified into earnings during the following 12-month period when realized.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In relation to the above interest rate swap agreements designated as cash flow hedges and the corresponding amount recorded in &amp;#147;Accumulated other comprehensive loss&amp;#148; as of June 30, 2015, and in accordance with ASC 815 &amp;#147;&lt;i&gt;Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction&lt;/i&gt;,&amp;#148; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. &amp;#160;This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. &amp;#160;The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;u&gt;Level 1:&lt;/u&gt;&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-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;u&gt;Level 2:&lt;/u&gt;&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-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;u&gt;Level 3:&lt;/u&gt;&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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The following table summarizes the valuation of the Company's financial instruments as of December 31, 2014 and June 30, 2015 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="4" style=" border:solid #000000 0.0px;width:375px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs (Level 2)&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:187px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&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:187px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;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="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - asset position&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;LIABILITIES&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - liability position&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 7,732&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9,819&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,081&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;&amp;#151;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;7,732&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;9,819&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;1,081&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:290px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:84px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:83px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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. &amp;#160;The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The 8.00% 2019 Notes have a fixed rate, and their estimated fair value, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), is approximately $44,360 as of June 30, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:EarningsPerShareTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;11.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Earnings / Loss per Share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;All shares issued (including the restricted shares issued under the Company's equity incentive plans) are the Company's common shares and have equal rights to vote and participate in dividends. The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Company calculates basic and diluted earnings / loss per share 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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" 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:241px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, &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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&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 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Income / (Loss):&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Net &amp;#160;income / (loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3,870&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(105,197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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: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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic &amp;#160;earnings/ &amp;#160;(loss) per share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;28,973,621 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;171,736,658 &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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic earnings &amp;#160;(loss) per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.13)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.61)&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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Dilutive effect of non-vested shares&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;28,973,621 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;171,736,658 &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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Diluted &amp;#160;earnings / (loss) per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:133.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.13)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.61)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:303px;"&gt;&lt;/td&gt;
    &lt;td style="width:115px;"&gt;&lt;/td&gt;
    &lt;td style="width:19px;"&gt;&lt;/td&gt;
    &lt;td style="width:81px;"&gt;&lt;/td&gt;
    &lt;td style="width:37px;"&gt;&lt;/td&gt;
    &lt;td style="width:16px;"&gt;&lt;/td&gt;
    &lt;td style="width:86px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;For the six month periods ended June 30, 2014 and 2015, and on the basis that the Company incurred a net loss, the effect of 412,834 and 676,150, respectively, non-vested shares, as well as the effect of 521,250 non-vested share options as of June 30, 2015, would be anti-dilutive; therefore &amp;#147;Basic earnings / (loss) per share&amp;#148; equals &amp;#147;Diluted earnings &amp;#160;/ (loss) per share&amp;#148;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <sblk:ManagementFeesTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;10.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Management fees&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;As of January 1, 2015, the Company engaged Ship Procurement Services S.A. (&amp;#147;SPS&amp;#148;), an unaffiliated third party company, to provide to its fleet certain procurement services at a daily fee of $0.295 per vessel. Total management fees to SPS for the six month period ended June 30, 2015, were $3,748 and are included in Management fees in the accompanying unaudited interim condensed statement of operations. In addition, Management fees for the six month period ended June 30, 2015 also include $315 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:ManagementFeesTextBlock>
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;9.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Preferred and Common Shares 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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's Preferred and Common Shares are discussed in Note 10 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, filed with the SEC on April&amp;#160;8, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six month period ended June 30, 2014, 22,598 common shares were issued, as part of the consideration for the acquisition of 33% of the total outstanding common stock of Interchart.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six month period ended June 30, 2014, the Company issued 394,167 common shares under its 2014 Equity Incentive Plan, 8,000 common shares, which were granted to certain directors of the Company and 9,333 common shares to the Company's former Chief Executive Officer, representing the first installment of his minimum guaranteed incentive award in accordance with his consultancy agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In August&amp;#160;2014, the Company agreed to issue the Excel Vessel Share Consideration of 29,917,312 common shares under the terms of the Excel Transactions. During the six month period ended June 30, 2015, the Company issued 4,257,887 common shares as part of the Excel Vessel Share Consideration following the deliveries of the last six Excel Vessels (Note 1).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Equity offerings &lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On January 14, 2015, the Company completed a primary underwritten public offering of 49,000,418 of its common shares, at a price of $5.00 per share. The aggregate proceeds to the Company, net of underwriters commissions and offering expenses, were &amp;#160;$242,211.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On May 18, 2015, the Company completed a primary underwritten public offering of 56,250,000 common shares, at a price of $3.20 per share. The aggregate proceeds to the Company, net of underwriters commissions and offering expenses, were $175,586. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <us-gaap:LongTermDebtTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;8.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Long-term Debt:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The table below presents outstanding amounts under the Company's bank loans and notes as of December 31, 2014 and June 30, 2015:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&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;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:392px;height:26px;"&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:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&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;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:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Commerzbank $120,000 and $26,000 facilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;74,680&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;44,417&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Credit Agricole Corporate and Investment Bank $70,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54,968&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;52,998&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;ABN AMRO Bank N.V. $31,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;12,800&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH Nordbank AG $64,500 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;29,600&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,547&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH Nordbank AG $35,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;33,187&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;31,979&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Deutsche Bank AG $39,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;36,660&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;35,100&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;ABN $87,458 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;76,689&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;71,740&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Deutsche Bank $85,000 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;82,708&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;79,875&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSBC $86,600 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;83,490&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;80,380&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;CEXIM $57,360 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&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:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" style=" border:solid #000000 0.0px;width:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSBC $20,000 Dioriga Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;19,300&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;18,600&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;NIBC $32,000 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&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:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" style=" border:solid #000000 0.0px;width:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;BNP $32,480 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;32,480&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;31,406&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excel Vessel Bridge Facility &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;56,161&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DVB $24,750 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,750&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;22,950&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excel Vessel CiT Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;30,000&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" style=" border:solid #000000 0.0px;width:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sinosure Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;37,366&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Citi Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;51,478&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;87,329&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Heron Vessels Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,567&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;21,589&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DNB $120,000 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;88,275&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;106,712&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DVB $31,000 Deep Blue Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;28,680&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DNB-SEB-CEXIM 227,500 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&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:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;32,400&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8.00% 2019 Notes&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50,000&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50,000&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:392px;height:13px;"&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:double #000000 3.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" 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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;861,793&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;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:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" 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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;858,068&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Details of the Company's credit facilities and debt securities are discussed in Note 9 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, except for the following:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;a) Prepayment of the Excel Vessel Bridge Facility&lt;/b&gt;: On January 29, 2015, the Company fully prepaid the Excel Vessel Bridge Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;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="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;b) DVB $31,000 Deep Blue Facility&lt;/b&gt;: On May 21, 2015, the Company entered into an agreement with DVB Bank SE (the &amp;#147;DVB $31,000 Deep Blue Facility&amp;#148;) for up to $31,000 to partially finance the construction cost of &lt;i&gt;Deep Blue&lt;/i&gt; (ex-HN 5017), a Capesize bulk carrier, under construction by Japan Marine United Corporation. The Company drew $28,680 in May 2015, upon the vessel's delivery to the Company. The facility will be repaid in 24 equal, consecutive, quarterly principal installments of $476.5 each, with the first become becoming due and payable three months from the drawdown date, and a balloon installment of $17,245 payable simultaneously with the 24&lt;sup&gt;th&lt;/sup&gt; instalment in May 2021. The DVB $31,000 Deep Blue Facility is secured by a first priority mortgage over the financed vessel and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;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="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;c) BNP committed term sheet&lt;/b&gt;: On March 13, 2015, the Company entered into a committed term sheet with BNP Paribas for up to $39,500 to finance two vessels, the newbuilding vessel HN5056 (tbn &lt;i&gt;Megalodon&lt;/i&gt;) and the 2004-built Panamax vessel &lt;i&gt;Star Emily&lt;/i&gt;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;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="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;d) DNB-SEB-CEXIM $227,500 Facility&lt;/b&gt;: On March 31, 2015, the Company entered into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA and the Export-Import Bank of China (CEXIM) as mandated lead arrangers and DNB Bank ASA, Skandinaviska Enskilda Banken AB (SEB) and CEXIM as original lenders (the &amp;#147;DNB-SEB-CEXIM $227,500 Facility&amp;#148;) for up to $227,500 to partially finance the construction of seven newbuilding vessels, HN166 (tbn &lt;i&gt;Gargantua&lt;/i&gt;), HN167 (tbn &lt;i&gt;Goliath&lt;/i&gt;), HN1338 (tbn &lt;i&gt;Star Aries&lt;/i&gt;), HN184 (tbn &lt;i&gt;Maharaj&lt;/i&gt;), HN1339 (tbn &lt;i&gt;Star Taurus&lt;/i&gt;), HN1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;) and HN198 (tbn &lt;i&gt;Star Poseidon&lt;/i&gt;). The financing will be available in seven separate tranches, one for each newbuilding vessel. The first tranche of $32,400 was drawn in April, 2015, upon the delivery of the vessel &lt;i&gt;Gargantua&lt;/i&gt; (ex-HN 166) to the Company. This tranche will be repaid in 24 equal, consecutive, quarterly principal installments of $508.4 each, with the first becoming due and payable three months from the drawdown date and a balloon installment of $20,198 payable simultaneously with the 24&lt;sup&gt;th&lt;/sup&gt; instalment in April 2021. The DNB-SEB-CEXIM $227,500 Facility is secured by a first priority cross-collateralized mortgage over the financed vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;e) ABN AMRO Bank N.V. $31,000 Facility&lt;/b&gt;: On March 31, 2015, the Company and ABN AMRO signed a third supplemental agreement and agreed to revise certain financial covenants governing this facility. In June 2015, this facility was fully repaid following the sale of the vessels &lt;i&gt;Star Big&lt;/i&gt; and &lt;i&gt;Star Mega.&lt;/i&gt; (Note 5)&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;f) Restructuring Agreement -&amp;#160;Commerzbank $120,000 and $26,000 Facilities&lt;/b&gt;: On March 30, 2015, the Company and Commerzbank AG signed a second supplemental agreement. Under the supplemental agreement, the Company agreed to (i)&amp;#160;prepay Commerzbank AG $3,000, (ii)&amp;#160;amend some of the financial covenants governing this facility, and (iii) change the repayment date relative to Commerzbank $26,000 tranche from September 7, 2016 to July 31, 2015. The tranche of Commerzbank $26,000 was fully repaid in June 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;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="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;g) Excel Vessel CiT Facility: &lt;/b&gt;On June 10, 2015, the Company fully repaid the Excel Vessel CiT Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;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="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;h) Amendment of Financial Covenants&lt;/b&gt;: During the second quarter of 2015 the Company reached agreements with all of its lenders to amend certain financial covenants included in its loan facilities.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Under the DNB-SEB-CEXIM $227,500 Facility, the Company is not allowed to pay dividends until December 2017, if the Company's liquid funds are not greater than $200,000 or $2,000 per fleet vessel. Under its other loan agreements, the Company is not allowed to pay dividends until December 31, 2016. &amp;#160;In any event, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Furthermore, the Company's credit facilities contain financial covenants requiring the Company to maintain various financial ratios, including:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;-&amp;#160;a minimum percentage of aggregate vessel value to loans secured;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;-&amp;#160;a maximum ratio of total liabilities to market value adjusted total assets;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;-&amp;#160;a minimum EBITDA to interest coverage ratio;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;-&amp;#160;a minimum liquidity; and&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;-&amp;#160;a minimum equity ratio.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $35,200, respectively, which is included within &amp;#147;Cash and cash equivalents&amp;#148; in the accompanying balance sheets. &amp;#160;In addition, as of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,789, respectively, which is included within &amp;#147;Restricted cash&amp;#148; in the accompanying balance sheets. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of December 31, 2014 and June 30, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after June 30, 2015, for all the then outstanding debt, are 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:477px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;93,128&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;140,554&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;89,780&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;203,411&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;215,902&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&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:29px;"&gt;&lt;div style="text-indent:13.3px;"&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:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;115,293&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:477px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total (including 8% 2019 Notes)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;858,068&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:477px;height:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excluding 8.00% 2019 Notes&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50,000&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:477px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Long term debt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;808,068&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:477px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Long term debt -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;93,128&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Long term debt -&amp;#160;non-current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;714,940&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:Times New Roman;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;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;At June 30, 2015, 56 of the Company's owned vessels, having a net carrying value of $1,528,386, were subject to first-priority mortgages as collateral to its loan facilities. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;For the six month periods ended June 30, 2014 and 2015, the Company's existing debt agreements bore interest at a weighted-average rate of approximately 3.33% and 3.30%, respectively. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;All of the Company's bank loans bear interest at LIBOR plus a margin. The amounts of &amp;#147;Interest and finance costs&amp;#148; included in the accompanying consolidated statements of operations are 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" rowspan="2" style=" border:solid #000000 0.0px;width:417px;height:36px;"&gt;&lt;div style="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:220px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&lt;b&gt;2014 &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;2015&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:94px;height:12px;"&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:30px;"&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:94px;"&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="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest on long term debt &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$3,936 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$16,991 &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:417px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Less: Interest capitalized &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,252&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(6,221&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:38px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;1,491 &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:417px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Amortization of loan expenses &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;284 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;1,199 &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:417px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other bank and finance charges &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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;89&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:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;411&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:417px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Interest and finance costs&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:double #000000 3.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$3,057 &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:double #000000 3.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$13,871 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:417px;"&gt;&lt;/td&gt;
    &lt;td style="width:94px;"&gt;&lt;/td&gt;
    &lt;td style="width:30px;"&gt;&lt;/td&gt;
    &lt;td style="width:94px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div align="justify"&gt;&lt;font style="font-family:Calibri;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In connection with the prepayment of the Excel Vessel Bridge Facility, the Excel Vessel CiT Facility, the ABN AMRO $31,000 Facility and the Commerzbank 26,000 Facility, $974 of unamortized deferred finance charges was written off and included under &amp;#147;Loss on debt extinguishment&amp;#148; in the accompanying consolidated statement of operations for the six month period ended June 30, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
  <sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;7.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Fair value of Above Market Acquired Time Charters:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amortization of fair value of above market acquired time charters for the six months ended June 30, 2014 and 2015 was $3,149 and $7,071, respectively. &amp;#160;It relates to (i)&amp;#160;the vessels &lt;i&gt;Star Big&lt;/i&gt; and &lt;i&gt;Star Mega&lt;/i&gt;, which were acquired in 2011, (ii)&amp;#160;the vessels &lt;i&gt;Amami&lt;/i&gt; and &lt;i&gt;Medredeus&lt;/i&gt;, which were acquired as part of the Merger with time charters attached, and (iii) three Excel Vessels (&lt;i&gt;Christine (tbr Star Martha), Star Pauline and Star Despoina&lt;/i&gt;), which were acquired as part of the Excel Transactions each with a time charter.&amp;#160;Such amortization is included under &amp;#147;Voyage revenues&amp;#148; in the accompanying unaudited interim condensed consolidated statements of operations. The accumulated amortization of these above market time charters as of December 31, 2014 and June 30, 2015 was $21,200 and $28,271, respectively. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The estimated aggregate amortization expense of the above market acquired time charters until their expiration is analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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=" margin-left: 34.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:38px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:112px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:341px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:38px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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 1.0px;width:112px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,723&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:341px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:57px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:38px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:112px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,723&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:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As described in Note 5 above, in the second quarter of 2015, the Company entered into an agreement with a third party to sell the vessel &lt;i&gt;Star Big&lt;/i&gt;. In view of its planned sale, its above market acquired time charter was early terminated, and the unamortized balance relating to this vessel of $2,114 at June 30, 2015 was written-off and reflected under &amp;#147;Loss on time charter agreement termination&amp;#148; in the accompanying unaudited interim condensed statement of operations for the six month period ended June 30, 2015. &lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:FairValueAboveMarketAcquiredTimeChartersTextBlock>
  <sblk:AdvancesForVesselsAcquisitionsTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;6.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Advances for vessels under construction and acquisition of vessels:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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=" margin-left: 34.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;br/&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:102px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;270,947&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;206,997&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Fair value adjustment (Note 1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;137,923&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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:21px;"&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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;86,400&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:264px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Bareboat capital leases -&amp;#160;upfront hire and handling fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;31,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;44,551&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10,654&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;14,636&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3,542&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;4,554&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Advances for secondhand vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;79&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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:21px;"&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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:102px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&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="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(19,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:102px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;454,612&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;337,671&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:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As summarized in the relevant table of Note 1, as of June 30, 2015 the Company was party to 25 newbuilding contracts for the construction of dry bulk carriers of various types, 14 of which were assumed as part of the Merger and the Pappas Transaction. &amp;#160;As of June 30, 2015, the total aggregate remaining contracted price for the 25 newbuilding vessels plus agreed additional amounts was $577,868 (giving effect to the renegotiated prices and delivery dates of certain of the Company's newbuilding vessels disclosed in Notes 15(a) and (b)), payable in periodic installments up to their deliveries, of which $500,681 is payable during the next twelve months ending June 30, 2016 and the remaining $77,187 is payable during the twelve months ending June 30, 2017. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On February 17, 2014, the Company entered into separate bareboat charter party contracts with CSSC (Hong Kong) Shipping Company Limited, or CSSC, an affiliate of Shanghai Waigaoqiao Shipbuilding Co., Ltd. (&amp;#147;SWS&amp;#148;), a Chinese shipyard, to bareboat charter for ten years two fuel efficient newbuilding Newcastlemax dry bulk vessels (the 'CSSC Vessels&amp;#148;), each with a cargo carrying capacity of 208,000 dwt. The vessels are being constructed pursuant to shipbuilding contracts entered into between two pairings of affiliates of SWS. Each pair has one shipyard party (each, an &amp;#147;SWS Builder&amp;#148;) and one ship-owning entity (each an &amp;#147;SWS Owner&amp;#148;). Delivery to the Company of each vessel is deemed to occur upon delivery of the vessel to the SWS Owner from the corresponding SWS Builder. Pursuant to the terms of the bareboat charters, the Company is required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $47,200 and $46,400, respectively, for the construction cost of each vessel, corresponding to the last pre-delivery and delivery installment to the shipyard, will be financed by the relevant SWS Owner, to whom the Company will pay a daily bareboat charter hire rate payable monthly plus a variable amount. In addition, the Company will pay an installment of $300 plus an additional amount of $669 for agreed extra costs for both vessels. In addition, the Company is also obliged to pay an amount of $936 representing handling fees in two installments. The first installment of $462 was paid upon the signing of the bareboat charters, and the second installment is due in one year. Under the terms of the bareboat charters, the Company has the option to purchase the CSSC Vessels at any time, such option being exercisable on a monthly basis against pre-determined, amortizing-during-the-charter-period prices whilst it has a respective obligation of purchasing the vessels at the expiration of the bareboat term at a purchase price of $14,160 and $13,919, respectively. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the CSSC Vessels. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, following the completion of the Merger and the Pappas Transactions, the Company assumed bareboat charters with respect to five newbuilding vessels being built at SWS for subsidiaries of Oceanbulk at the time of Merger. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;On December&amp;#160;27, 2013, subsidiaries of Oceanbulk had entered into separate bareboat charter party contracts with affiliates of SWS for ten-year bareboat charters of five newbuilding 208,000 dwt Newcastlemax vessels. The vessels are being constructed pursuant to shipbuilding contracts entered into between five pairings of affiliates of SWS. &amp;#160;Each pair has one shipyard party (each, an &amp;#147;SWS Builder&amp;#148;) and one ship-owning entity (each an &amp;#147;SWS Owner&amp;#148;). Delivery of each vessel to the Company is deemed to occur upon delivery of the vessel to the SWS Owner from the corresponding SWS Builder. Pursuant to the terms of the bareboat charter, the Company is required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $46,400 for the construction cost of each vessel, corresponding to the delivery installment to the shipyard, will be financed by the relevant SWS Owner, to whom the Company will pay a daily bareboat charter hire rate payable monthly plus a variable amount payable every six months and a one-time handling fee of $464. In addition, the Company will pay for the five newbuilding vessels an aggregate amount of $1,680 for agreed extra costs. After each vessel's delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices. At the end of the ten-year charter period for each vessel, the Company has the obligation to purchase the vessel at a purchase price of $13,919. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the five vessels.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Based on applicable accounting guidance, the Company determined that the bareboat charters with the affiliates of SWS and CSSC should be classified as capital leases. Therefore, the amount of $15,669 paid during the six months ended June 30, 2015, representing the installments for the upfront hire and handling fees of the newbuilding vessels, including for those vessel delivered during this period, has been capitalized. In addition, based on the lease agreement provisions, the Company is not deemed to bear substantially all of the construction period risk and therefore is not considered the owner of the vessels during the construction period. Therefore, each of the above bareboat charters is not considered a sales type lease and will not be accounted for as a sale and leaseback transaction upon the delivery of each newbuilding vessel to the Company, when the lease term is deemed to begin. &amp;#160;At that time the Company will recognize the appropriate financial liability and financial asset in accordance with the applicable capital lease accounting guidance.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six month period ended June 30, 2015, the Company entered into a cancellation agreement with a shipyard for the cancellation of a shipbuilding contract for a newbuilding vessel, which was previously scheduled to be delivered to the Company in June 2016 under a bareboat charter agreement. Under this cancellation agreement, the Company has no obligation to compensate the shipyard or the bareboat charterer for this cancelled vessel. In connection with the respective cancellation an impairment of $3,009 was recorded, which includes a $2,500 write-off of the fair value adjustment recognized upon the Merger. (Note 1).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six month period ended June 30, 2015, the Company entered into an agreement with a third party to sell one of its newbuilding vessels upon its delivery to the Company, which is expected to take place in 2016. In connection with this sale, an impairment charge of $16,458 was recorded, which includes a $11,300 write-off of the fair value adjustment recognized upon the Merger (Note 1).&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:AdvancesForVesselsAcquisitionsTextBlock>
  <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The amounts in the accompanying consolidated balance sheets are analyzed as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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=" margin-left: 40.0px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:27px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,541,538&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,857,658&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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Fair value adjustment &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;100,065&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;151,588&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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,683&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,701&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:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Impairment charge&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:17px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="middle" style=" border:solid #000000 0.0px;width:17px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(8,282&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,643,286&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,002,665&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:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Accumulated depreciation&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:17px;"&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 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(201,435&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(230,001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,441,851&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,772,664&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;As of June 30, 2015 the Company performed an impairment review for its fleet, since certain factors indicated that the carrying amount of its vessels might not be recoverable. Such review did not result in any impairment to the value of the Company's vessels, except for the value of certain vessels that the Company agreed to sell, which vessels were subject to an impairment charge as discussed below.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed during the six month period ended June 30, 2014&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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 98,681 dwt Post-Panamax vessels, &lt;i&gt;Star Vega&lt;/i&gt; and &lt;i&gt;Star Sirius&lt;/i&gt;, built 2011, for an aggregate purchase price of $60,000. The vessels &lt;i&gt;Star Vega&lt;/i&gt; and &lt;i&gt;Star Sirius&lt;/i&gt;, were delivered to the Company on February&amp;#160;13, 2014 and March&amp;#160;7, 2014, respectively. The vessels, upon their delivery, were chartered back to Glocal for a daily rate of $15 less brokerage commission of 1.25% until at least June&amp;#160;2016.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;No vessel disposals took place in the six month period ended June&amp;#160;30, 2014.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-top:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:16.0px;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels acquired / disposed during the six month period ended June 30, 2015&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Delivery of newbuilding vessels:&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(i) On January 8, 2015, the Company took delivery of the vessel &lt;i&gt;Indomitable&lt;/i&gt; (ex-HN 5016), for which it had previously made a payment of $34,942 in December 2014. To partially finance the delivery installment of the &lt;i&gt;Indomitable&lt;/i&gt;, the Company drew down $32,480 under the BNP $32,480 Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(ii) On February 27, 2015, the Company took delivery of the vessels &lt;i&gt;Honey Badger&lt;/i&gt; (ex-HN 164) and &lt;i&gt;Wolverine&lt;/i&gt; (ex-HN 165), for which the Company paid delivery installments of $19,422 each. On March 13, 2015, the Company drew down $38,162 for the financing of both &lt;i&gt;Honey Badger&lt;/i&gt; and &lt;i&gt;Wolverine&lt;/i&gt; under the Sinosure Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iii) On March 25, March 31, April 7, and June 26, 2015, the Company took delivery of the Ultramax vessels &lt;i&gt;Idee Fixe&lt;/i&gt; (ex-HN 1063), &lt;i&gt;Roberta&lt;/i&gt; (ex-HN 1061), &lt;i&gt;Laura&lt;/i&gt; (ex-HN 1062) and &lt;i&gt;Kaley&lt;/i&gt; (ex-HN1064), respectively, which are all subject to separate bareboat charter agreements (which are accounted for as capital leases as discussed below) with Jiangsu Yangzijiang Shipbuilding Co. Ltd. (&amp;#147;New Yangzijiang&amp;#148;).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(iv) On April 2, 2015, the Company took delivery of the Newcastlemax vessel &lt;i&gt;Gargantua&lt;/i&gt; (ex-HN 166). The delivery instalment of $37,682 was partially financed by $32,400 drawn under the DNB-SEB-CEXIM $227,500 Facility, while the remaining amount was financed through existing cash. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(v) On May 27, 2015, the Company took delivery of the Capesize vessel &lt;i&gt;Deep Blue&lt;/i&gt; (ex-HN 5017). The delivery installment of $34,982 was partially financed by $28,680 drawn under the DVB $31,000 Deep Blue Facility.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Acquisition of secondhand vessels&lt;/i&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;During the six month period ended June 30, 2015, the remaining six of the Excel Vessels (&lt;i&gt;Star Nina&lt;/i&gt; (ex. &lt;i&gt;Iron Kalypso&lt;/i&gt;), &lt;i&gt;Star Nicole&lt;/i&gt; (ex. &lt;i&gt;Elinakos&lt;/i&gt;), &lt;i&gt;Star Claudia&lt;/i&gt; (ex. &lt;i&gt;Happyday&lt;/i&gt;), &lt;i&gt;Star Monisha&lt;/i&gt; (ex. &lt;i&gt;Iron Beauty&lt;/i&gt;), &lt;i&gt;Rodon&lt;/i&gt; and &lt;i&gt;Star Jennifer&lt;/i&gt; (ex. &lt;i&gt;Ore Hansa&lt;/i&gt;) were delivered to the Company in exchange for 4,257,887 common shares and $39,475 in cash, completing the acquisitions of 34 vessels from Excel as further discussed in Note 1 above.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Sale of vessels&lt;/i&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On January&amp;#160;20, January&amp;#160;28, March&amp;#160;6, and March&amp;#160;19, 2015, the Company entered into separate agreements with third parties to sell four of the recently acquired Excel Vessels&amp;#160;&lt;i&gt;Star Julia&lt;/i&gt;,&amp;#160;&lt;i&gt;Star Tatianna&lt;/i&gt;,&amp;#160;&lt;i&gt;Rodon&amp;#160;&lt;/i&gt;and&amp;#160;&lt;i&gt;Star Monika&lt;/i&gt;, respectively. The vessels were delivered to their new owners on February&amp;#160;4, &amp;#160;February&amp;#160;9, March&amp;#160;12 and April&amp;#160;7, 2015, respectively. As of March 31, 2015, the vessel Star Monika met the criteria for classification as held for sale, and the Company recognized an impairment loss of $1,080. In addition, the vessel&amp;#160;&lt;i&gt;Star Kim,&lt;/i&gt;&amp;#160;which was agreed to be sold in December 2014, was delivered to its new owners on January 21, 2015. In connection with the sale of the vessels&amp;#160;&lt;i&gt;Star Julia&lt;/i&gt;,&lt;i&gt;&amp;#160;Star Tatianna, Star Monika&amp;#160;&lt;/i&gt;and&amp;#160;&lt;i&gt;Star Kim,&lt;/i&gt;&amp;#160;the Company prepaid an amount of $18,181 under the Excel Vessel CiT Facility. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, on April 17, 2015, May 18, 2015 and June 5, 2015 the Company entered into separate agreements with third parties to sell the vessels &lt;i&gt;Star Big, Star Christianna&lt;/i&gt; and &lt;i&gt;Star Mega&lt;/i&gt;. The vessels were delivered to their new owners on June 4, 2015, June 23, 2015 and June 17, 2015, respectively.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:48.0px;"&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="text-align:justify;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In connection with the aforementioned sales the Company recognized a total net loss on sale of vessels of $13,389, which is separately reflected in the statement of operations for the six month period ended June 30, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:48.0px;"&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="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel &lt;i&gt;Maiden Voyage&lt;/i&gt;. As part of this transaction, the vessel will be leased back to the Company under a time charter for two years, and Star Bulk will guarantee all the liabilities and responsibilities of the vessel's shipowning entity (Premier Voyage LLC) under this charter. The lease back did not meet the lease classification test for a capital lease and will be accounted for as operating lease. In addition, the vessel did not meet the 'held-for-sale' classification criteria as of June 30, 2015, as it was not considered available for immediate sale in its present condition. In connection with this sale, an impairment charge of $8,282 was recorded, which includes a $4,411 write-off of the fair value adjustment recognized upon the Merger (Note 1). The vessel was delivered to its new owner in September 2015 (Note 15).&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Capital leases&lt;/i&gt;:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On May&amp;#160;17, 2013, subsidiaries of Oceanbulk entered into separate bareboat charter party contracts with affiliates of New Yangzijiang shipyards for eight-year bareboat charters of four newbuilding 64,000 dwt Ultramax vessels being built at New Yangzijiang. &amp;#160;The Company assumed these bareboat charters following the completion of the Merger. The vessels were constructed pursuant to four shipbuilding contracts entered into between four pairings of affiliates of New Yangzijiang. &amp;#160;Each pair had one shipyard party (each, a &amp;#147;New YJ Builder&amp;#148;) and one ship-owning entity (each a &amp;#147;New YJ Owner&amp;#148;). &amp;#160;Delivery of each vessel to the Company was deemed to occur upon delivery of the vessel to the New YJ Owner from the corresponding New YJ Builder. Pursuant to the terms of the bareboat charter, the Company was required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $20,680 for the construction cost of each vessel, corresponding to the delivery installment to the shipyard, as agreed to be financed by the relevant New YJ Owner, to whom the Company will pay a pre-agreed daily bareboat charter hire rate on a 30-days advance basis. &amp;#160;After each vessel's delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices. &amp;#160;On the eighth anniversary of the delivery of each vessel, the Company has the obligation to purchase the vessel at a purchase price of $6,000. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the four vessels. As further discussed above, the Company took delivery of these four vessels during the six month period ended June 30, 2015. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Based on applicable accounting guidance, the Company determined that the bareboat charters should be classified as capital leases. At the time of delivery, when the term of the lease was deemed to begin, the Company recorded a financial liability and a financial asset equal to the present value of the minimum lease payments in accordance with the applicable capital lease accounting guidance. The net book value of these vessels (which includes the upfront fees paid by the Company to the lessor during the construction period and the additional amounts paid by the Company to the lessor at the vessel's delivery in form of additional upfront fees, net of accumulated depreciation) recorded as of June 30, 2015 is reflected within &amp;#147;Vessels and other fixed assets, net&amp;#148; in the accompanying unaudited consolidated balance sheet. The charge resulting from amortization of these leased assets is included within &amp;#147;depreciation expense&amp;#148; in the accompanying unaudited statement of operations. &amp;#160;The interest expense on the financial liability related to these capital leases as of June 30, 2015 was $872 and is included within &amp;#147;Interest and finance costs&amp;#148; in the accompanying unaudited statement of operations. As of June 30, 2015 the net book value of the vessels was $123,210, with accumulated amortization of $842. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The principal payments required to be made after June 30, 2015, for the outstanding capital lease obligations, are as follows:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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=" margin-left: 33.3px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,640&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,640&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,640&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,572&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;12,370&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&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:21px;"&gt;&lt;div style="text-indent:13.3px;"&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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;58,016&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:379px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total capital lease minimum payments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;105,878&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:379px;height:16px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excluding bareboat interest &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,198&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:379px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total lease commitments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;81,680&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:379px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;4,380&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;non-current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;77,300&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <us-gaap:InventoryDisclosureTextBlock contextRef="FYp0YTD">&lt;div style="margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;4.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Inventories:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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=" margin-left: 40.0px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:158px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,853&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,106&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:158px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,515&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,585&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:158px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,368&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;16,691&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:158px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:InventoryDisclosureTextBlock>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Significant accounting policies and recent accounting pronouncements:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;A summary of the Company's significant accounting policies is included in Note 2 to the Company's consolidated financial statements included in the Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the SEC on April 8, 2015. There have been no changes to the Company's significant accounting policies in the six month period ended June 30, 2015, except for the following:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessel, net: &lt;/b&gt;Effective January&amp;#160;1, 2015, and following management's reassessment of the residual value of the Company's vessels, the estimated scrap value per light weight tonnage was increased from $0.2 to $0.3. The current value of $0.3 was based on the historical average demolition prices prevailing in the market. The effect of this change in accounting estimate, which pursuant to Accounting Standards Codification ('ASC') 250 &amp;#147;Accounting Changes and Error Corrections&amp;#148; was applied prospectively and did not require retrospective application, was to decrease the depreciation expense and the net loss for the six month period ended June 30, 2015, by $3,273 or $0.02 loss per basic and diluted share. &amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;text-indent:48.0px;"&gt;&lt;font style="font-family:TimesNewRoman-Bold;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Vessels under capital lease:&lt;/b&gt;&lt;/font&gt;&lt;font style="font-family:TimesNewRoman;font-size:13.3px;color:#000000; "&gt; The Company has entered into certain leasing agreements for the leasing of various vessels. Leases of vessels, are classified as capital leases when they satisfy the criteria for capital lease classification under ASC 840 &amp;#147;Leases&amp;#148;. Capital leases are capitalized at the inception of the lease at the lower of the fair value of the leased assets and the present value of the minimum lease payments. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the capital balance outstanding. The interest element of the capital cost is charged to the statement of operations and is included within "Interest and finance costs" in the consolidated statement of operations.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:TimesNewRoman;font-size:13.3px;color:#000000; "&gt;Depreciation of vessels under capital lease is included within "Depreciation" in the consolidated statement of operations. When the ownership of a vessel is transferred at the end of the lease, or there is a bargain purchase option, the vessel is depreciated on a straight-line basis over its useful life as if the vessel was owned. Otherwise&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt; vessels under capital lease are depreciated on a straight-line basis over the term of the lease.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Share incentive plan awards -&amp;#160;Share Options:&lt;/b&gt;&amp;#160;The fair value of share option grants is determined with reference to option pricing models, and depends on the terms of the granted options. The fair value is recognized (generally as compensation expense) over the requisite service period for all awards that vest. &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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Recent accounting pronouncements:&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Simplifying the Presentation of Debt Issuance Costs&lt;/b&gt;&lt;/i&gt;: In April&amp;#160;2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update ('ASU') No. &amp;#160;2015-03, &lt;i&gt;Interest&amp;#151;Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs. &lt;/i&gt;ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. ASU 2015-03 is effective, for public business entities, for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted. While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company's financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Revenue from Contracts with Customers&lt;/b&gt;&lt;/i&gt;: On May 28, 2014, the FASB issued ASU No. 2014-09 &amp;#147;&lt;i&gt;Revenue from contracts with customers&lt;/i&gt;&amp;#148; with an effective date for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. On August 12, 2015, the FASB issued ASU No. 2015-14 &amp;#147;&lt;i&gt;Revenue from contracts with customers&lt;/i&gt;&amp;#148; which defers the effective date of ASU 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. Presently, the Company is assessing what effect the adoption of these ASUs will have on its financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Technical Corrections and Improvements&lt;/b&gt;&lt;/i&gt;: In June&amp;#160;2015, FASB issued ASU No.&amp;#160; 2015-10, &lt;i&gt;Technical Corrections and Improvements. &lt;/i&gt;The amendments in this update cover a wide range of Topics in the ASC. The amendments in this update represent changes to make minor corrections or minor improvements to the ASC that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Among others, according to the requirements of the ASU, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity shall clearly indicate that the fair value information presented is not as of the period's end as well as the date or period that the measurement was taken. Transition guidance varies based on the amendments in this update. The amendments in this update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this update. While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company's financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Simplifying the Measurement of Inventory:&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;font style="font-family:Arial;font-size:13.3px;color:#000000; "&gt;&lt;i&gt; &lt;/i&gt;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In July 2015, the FASB issued ASU No. 2015-11, &amp;#147;&lt;i&gt;Simplifying the measurement of inventory&lt;/i&gt;&amp;#148;. Topic 330, Inventory, currently requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments in this update require an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. &amp;#160;For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years.. The amendments in this update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. &amp;#160;While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company's financial statements and accompanying notes.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1.&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;Basis of Presentation and General Information:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Star Bulk Carriers Corp. (&amp;#147;Star Bulk&amp;#148;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk was incorporated in the Marshall Islands on December&amp;#160;13, 2006 and maintains executive offices in Athens, Greece.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Star Bulk's common shares started trading on the NASDAQ Global Select Market on December&amp;#160;3, 2007, under the ticker symbol &amp;#147;SBLK.&amp;#148; The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &amp;#147;Company,&amp;#148; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&amp;#147;U.S. GAAP&amp;#148;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &amp;#147;SEC&amp;#148;) for interim financial information. &amp;#160;Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. &amp;#160;Operating results for the six months ended June 30, 2015, are not necessarily indicative of the results that might be expected for the fiscal year ending December&amp;#160;31, 2015.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The unaudited interim condensed consolidated financial statements presented in this report should be read in conjunction with the Company's Annual Report on Form 20-F for the year ended December 31, 2014, filed with the SEC on April 8, 2015. &amp;#160;The balance sheet as of December 31, 2014 has been derived from the audited financial statements as of that date, but, pursuant to the requirements for interim financial information, does not include all of the information and footnotes required by U.S. GAAP for complete 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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;The 2014 Transactions&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;On July&amp;#160;11, 2014, the Company, as part of its growth strategy, completed a transaction that resulted in the acquisition of Oceanbulk Shipping LLC (&amp;#147;Oceanbulk Shipping&amp;#148;) and Oceanbulk Carriers LLC (&amp;#147;Oceanbulk Carriers&amp;#148;, and, together with Oceanbulk Shipping, &amp;#147;Oceanbulk&amp;#148;) from Oaktree Dry Bulk Holdings LLC (including affiliated funds, &amp;#147;Oaktree&amp;#148;) and Millennia Holdings LLC (&amp;#147;Millennia Holdings&amp;#148;, and together with Oaktree, the &amp;#147;Sellers&amp;#148;) through the merger of the Company's wholly-owned subsidiaries, Star Synergy LLC and Star Omas LLC, into Oceanbulk's holding companies (the &amp;#147;Merger&amp;#148;). &amp;#160;At the time of the Merger, Oceanbulk owned and operated a fleet of 12 dry bulk carrier vessels and owned contracts for the construction of 25 newbuilding fuel-efficient Eco-type dry bulk vessels at shipyards in Japan and China. &amp;#160;Millennia Holdings is an entity that is affiliated with the family of Mr.&amp;#160;Petros Pappas, who became the Company's Chief Executive Officer in connection with the Merger.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The agreement governing the Merger also provided for the acquisition (the &amp;#147;Heron Transaction&amp;#148;) by the Company of two Kamsarmax vessels (the &amp;#147;Heron Vessels&amp;#148;), from Heron Ventures Ltd. &amp;#160;(&amp;#147;Heron&amp;#148;), a limited liability company incorporated in Malta, which was a joint venture between Oceanbulk Shipping and a third party. The Heron Transaction has been reflected in the Company's consolidated financial statements as a purchase of assets. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, concurrently with the Merger, the Company completed a transaction (the &amp;#147;Pappas Transaction&amp;#148;), in which it acquired all of the issued and outstanding shares of Dioriga Shipping Co. and Positive Shipping Company (collectively, the &amp;#147;Pappas Companies&amp;#148;), which were entities owned and controlled by affiliates of the family of Mr.&amp;#160;Pappas. &amp;#160;At the time of the Merger, the Pappas Companies owned and operated a dry bulk carrier vessel (&lt;i&gt;Tsu Ebisu&lt;/i&gt;) and had a contract for the construction of a newbuilding dry bulk carrier vessel, HN 5016 (&lt;i&gt;Indomitable&lt;/i&gt;), which was delivered in January&amp;#160;2015. The Merger, the Heron Transaction and the Pappas Transaction are referred to, together, as the &amp;#147;July&amp;#160;2014 Transactions&amp;#148;.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;A total of 54,104,200 of the Company's common shares were issued to the various selling parties in the July 2014 Transactions, consisting of 48,395,766 common shares consideration for the Merger with Oceanbulk, 3,592,728 common shares consideration for the acquisition of Pappas Companies and 2,115,706 common shares partial consideration for the acquisition of the Heron Vessels.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The results of operations of Oceanbulk and the Pappas Companies have been reflected in the Company's consolidated statement of operations since the acquisition date (July 11, 2014). &amp;#160;As a result, no financial information of Oceanbulk and the Pappas Companies are included in the accompanying statement of operations for the period ended June 30, 2014. &lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The following unaudited pro forma consolidated financial information reflects the results of operations for the six month period ended June 30, 2014, as if the Merger and the Pappas Transaction had been consummated on January&amp;#160;1, 2013 and after giving effect to purchase accounting adjustments, including the nonrecurring pro forma reversal of: &amp;#160;(i)&amp;#160; all acquisition-related transaction costs of $2,363 incurred in the six month period ended June 30, 2014 and (ii)&amp;#160;the interest expense of $1,816 incurred in the six month period ended June 30, 2014, with respect to the convertible loan owed by Oceanbulk to its members, which was converted into equity because of the Merger, as if the conversion had taken place on January&amp;#160;1, 2013. &amp;#160;These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what operating results would have been had the Merger and the Pappas Transaction actually taken place on January&amp;#160;1, 2013. In addition, these results are not intended to be a projection of future results and do not reflect any synergies that might be achieved from the combined operations:&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&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:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, 2014&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:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma revenues&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;73,448&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:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma operating loss&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(4,637&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma net loss&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(12,270&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma loss per share, basic and diluted&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;(0.15)&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:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;In addition, on August&amp;#160;19, 2014, the Company entered into definitive agreements with Excel Maritime Carriers Ltd. &amp;#160;(&amp;#147;Excel&amp;#148;) pursuant to which (the &amp;#147;Excel Transactions&amp;#148;) the Company acquired 34 operating dry bulk vessels, consisting of six Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and two Handymax vessels (the &amp;#147;Excel Vessels&amp;#148;) for an aggregate consideration of 29,917,312 of its common shares (the &amp;#147;Excel Vessel Share Consideration&amp;#148;) and $288,391 in cash. The last Excel Vessel was delivered to the Company in April 2015. The delivery of each Excel Vessel has been reflected in the Company's financial statements as a purchase of assets. &amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;The Excel Transactions along with the July&amp;#160;2014 Transactions are herein collectively referred to as the &amp;#147;2014 Transactions&amp;#148;.&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Subsidiaries, Owned Vessels and Newbuilding Contracts&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Below is the list of Star Bulk's subsidiaries, all of which are wholly owned, as of June 30, 2015:&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Vessels in operation at June 30, 2015&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:right;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:22px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:193px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:146px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:63px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&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:91px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:22px;height:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Delivered to Star Bulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:solid #000000 0.0px;width:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Pearl Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Gargantua (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,529&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;L.A. Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Deep Blue (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,608&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;May 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Ocean Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Leviathan (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,511&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Horizon Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Peloreus (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,496&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;22, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Positive Shipping Company&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Indomitable (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,476&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 8, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;OOCAPE1 Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Obelix (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;181,433&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sandra Shipco LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Pauline (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2008&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Christine Shipco LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Christine (tbr Star Martha) (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2010&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Pacific Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pantagruel (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Borealis LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Borealis&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,678&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;9, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Polaris LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Polaris&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,600&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;14, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident V LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angie (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,931&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sky Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Fish (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,643&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Global Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kymopolia (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sea Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Bang (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Aurora LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aurora&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;171,199&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Lowlands Beilun Shipco LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Despoina (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;170,162&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident VII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Eleonora (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident VI LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Monisha (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Nautical Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Amami (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Majestic Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Madredeus (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Sirius LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sirius&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Vega LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vega&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;13, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Alta II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angelina (3)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,981&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Alta I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gwyneth (3)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,790&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;26 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Kamila &lt;/i&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,769&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;27 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Grain Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pendulum (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;28 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XIX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Maria (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,598&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;29 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Markella (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,594&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;30 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident IX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Danai (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,574&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 21, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;31 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XI LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Georgia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,298&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 14, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;32 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident VIII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sophia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,269&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;33 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XVI LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Mariella (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;34 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XIV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Moira (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,257&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;35 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XVIII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nina (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,224&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 5, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;36 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident X LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Renee (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,221&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 18, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;37 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nasia &amp;#160;(2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,220&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;38 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XIII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Laura (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;39 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Jennifer (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;40 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XVII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Helena (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,187&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;41 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Mineral Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Mercurial Virgo (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,545&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;42 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;KMSRX Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Magnum Opus (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;43 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Dioriga Shipping Co.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Tsu Ebisu (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;44 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident&amp;#160;III LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Iris (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,466&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;45 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident IV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aline (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,429&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;46 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Emily (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,417&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;16, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;47 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Natalie &amp;#160;(2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;73,798&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1998&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;48 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXIII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nicole (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;73,751&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 14, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1997&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;49 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vanessa (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;72,493&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;50 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXVI LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Claudia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;71,662&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 20, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1997&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;51 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Spring Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Idee Fixe (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,458&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 25, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Orion Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Roberta (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,426&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Success Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Laura (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 7, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;54 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Ultra Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kaley (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,283&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;June 26, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Challenger&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Challenger&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;12, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2012&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;56 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Challenger&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Fighter&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;57 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Aurelia Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Honey Badger (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,297&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;58 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Rainbow Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Wolverine (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,297&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;59 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Premier Voyage LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Maiden Voyage (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2012&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Glory Supra Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Strange Attractor (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Omicron LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Omicron&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,489&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April&amp;#160;17, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;62 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Gamma LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gamma&lt;/i&gt; (ex &lt;i&gt;C Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;4, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2002&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Zeta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Zeta&lt;/i&gt; (ex&amp;#160;I &lt;i&gt;Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Delta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Delta &lt;/i&gt;(ex &lt;i&gt;F Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,434&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;65 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Theta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Theta&lt;/i&gt; (ex &lt;i&gt;J Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,425&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;6, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;66 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Epsilon LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Epsilon&lt;/i&gt; (ex &lt;i&gt;G Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;3, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;67 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Cosmo LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Cosmo&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,246&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;1, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;68 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Kappa LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Kappa&lt;/i&gt; (ex &lt;i&gt;E Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;14, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;69 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Michele &lt;/i&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;45,588&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 14, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1998&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:4.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels acquired pursuant to the Merger and the Pappas Transaction&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels acquired pursuant to the Excel Transactions&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3) &amp;#160;&amp;#160;Vessels acquired from Heron&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(4)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels subject to a capital bareboat lease (Note 5)&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Newbuildings at June 30, 2015&lt;/b&gt;&lt;/i&gt;&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="bottom" style=" border:solid #000000 0.0px;width:23px;height:11px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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" rowspan="2" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Expected Delivery&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sea Diamond Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 167 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Goliath) &lt;/i&gt;(Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Coral Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 184 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Maharaj) &lt;/i&gt;(Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Ennea LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 198 (tbn &lt;i&gt;Star Poseidon&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Clearwater Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1359 (tbn &lt;i&gt;Star Marisa&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Seeker LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1372 (tbn &lt;i&gt;Star Libra&lt;/i&gt;) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Domus Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1360 (tbn &lt;i&gt;Star Ariadne&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Castle&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;) (1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Breezer LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1371 (tbn &lt;i&gt;Star Virgo&lt;/i&gt;) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Festive Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;May&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Castle&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;White Sand Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1363 (tbn &lt;i&gt;Star Chaucer&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Confidence Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5055 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Behemoth)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Runner Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5056 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Megalodon)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Olympia Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1312 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Bruno Marks)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Victory Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1313 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Jenmark)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Cape&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1338 (tbn &lt;i&gt;Star Aries&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Cape&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1339 (tbn &lt;i&gt;Star Taurus&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Blooming Navigation LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1080 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Kennadi)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Jasmine Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1081 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Mackenzie)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Oday Marine LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1082 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Night Owl)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Searay Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1083 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Early Bird)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Axe&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 196 (tbn &lt;i&gt;Star Antares&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Axe&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 197 (tbn &lt;i&gt;Star Lutas&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Asia&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5040 (tbn &lt;i&gt;Star Aquarius&lt;/i&gt;) (Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Asia&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5043 (tbn &lt;i&gt;Star Pisces&lt;/i&gt;) (Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;2015&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:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels acquired pursuant to the Merger and the Pappas Transaction&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subject to a capital bareboat lease (Note 6)&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:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Non-vessel owning subsidiaries at June 30, 2015&lt;/b&gt;&lt;/i&gt;&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Management Inc.&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Starbulk S.A.&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Manning LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Omas LLC (1) &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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Synergy LLC (1)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Shipping LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Carriers LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;International Holdings LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Unity Holding LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk (USA) LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXI LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIV LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVII LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXXI LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIX LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVIII LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Lamda LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alpha LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Beta LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Ypsilon LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Mega LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Big LLC (2)&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:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Entities established to merge with the holding companies of Oceanbulk&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Owning companies of vessels which were sold that currently have no operations&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:48.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Below is the list of the vessels which were under commercial and technical management by Star Bulk's wholly owned subsidiary, Starbulk S.A., during the six month period ended June 30, 2014. &amp;#160;For each vessel, Starbulk S.A. received a fixed management fee of $0.75 per day.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"&gt;&lt;font style="font-family:Times New Roman;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="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Effective Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;of Management&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Agreement&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Kymopolia&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;January&amp;#160;30, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Obelix&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October&amp;#160;19, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pacific Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Pantagruel&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October&amp;#160;24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Big Bang&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August&amp;#160;30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Big Fish&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October&amp;#160;18, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Majestic Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Madredeus&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Nautical Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Amami&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Grain Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Pendulum&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;82,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;17, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Mineral Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Mercurial Virgo&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;81,545&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;17, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:128px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Renascentia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:128px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Marto&lt;/i&gt; (3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August&amp;#160;2, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Strange Attractor&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September&amp;#160;24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Maiden Voyage&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September&amp;#160;28, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:128px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Serenity I&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June&amp;#160;11, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The respective companies were related parties, please refer to Note 3, which became wholly owned subsidiaries following the completion of the Merger on July&amp;#160;11, 2014, when the respective management agreements were terminated.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On June 20, 2014, this vessel was sold and the management agreement between Starbulk S.A. and the previous owners was terminated. The Company received management fees for a period of two months following the termination date, in accordance with the terms of the management agreement&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On July&amp;#160;3, 2014, the Company received a notice of termination of the management agreement for the vessel &lt;i&gt;Marto&lt;/i&gt;, one of the third-party owned vessels under the Company's management. &amp;#160;The management agreement was terminated upon the vessel's delivery to its new managers, on August&amp;#160;20, 2014. &amp;#160;The Company was entitled to receive management fees for a period of three months following the termination date, in accordance with the terms of the management agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock contextRef="FYp0YTD">&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" colspan="4" style=" border:solid #000000 0.0px;width:375px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Significant Other Observable Inputs (Level 2)&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:187px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&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:187px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(not designated as cash flow hedges)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(designated as cash flow hedges)&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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;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="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="top" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;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:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - asset position&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;LIABILITIES&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest rate swaps - liability position&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; &amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; 7,732&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;9,819&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;1,081&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"&gt;&lt;div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;&amp;#151;&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;7,732&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;9,819&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;$&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;b&gt;1,081&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:290px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:84px;"&gt;&lt;/td&gt;
    &lt;td style="width:103px;"&gt;&lt;/td&gt;
    &lt;td style="width:83px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
  <us-gaap:ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Unaudited Condensed Consolidated Statement of Operations&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Gain/(loss) on derivative instruments, net&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:97px;"&gt;&lt;div style="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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&amp;#160;31, 2014)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;(819)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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; &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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:solid #000000 0.0px;width:97px;"&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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;883&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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;(1,344)&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:442px;"&gt;&lt;div style="margin-left: 24.0px;text-indent:-12.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(227&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-1.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Ineffective portion of cash flow hedges&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) on derivative instruments, net&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160; (819)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;(688)&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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:97px;"&gt;&lt;div style="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:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;&lt;b&gt;Interest and finance costs&lt;/b&gt;&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&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:97px;"&gt;&lt;div style="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:442px;"&gt;&lt;div style="margin-left: 30.0px;text-indent:-17.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,491&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Gains/(Losses) recognized&lt;/b&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#151;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;(1,491)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="FYp0YTD">&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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" 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:241px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, &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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2014&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 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2015&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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Income / (Loss):&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Net &amp;#160;income / (loss)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3,870&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(105,197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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: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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic &amp;#160;earnings/ &amp;#160;(loss) per share:&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;28,973,621 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;171,736,658 &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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Basic earnings &amp;#160;(loss) per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.13)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.61)&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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Dilutive effect of non-vested shares&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Weighted average common shares outstanding, diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;28,973,621 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;171,736,658 &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:303px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Diluted &amp;#160;earnings / (loss) per share&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:115px;"&gt;&lt;div style="text-indent:133.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:19px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:81px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.13)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:37px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:16px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="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:86px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;(0.61)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:303px;"&gt;&lt;/td&gt;
    &lt;td style="width:115px;"&gt;&lt;/td&gt;
    &lt;td style="width:19px;"&gt;&lt;/td&gt;
    &lt;td style="width:81px;"&gt;&lt;/td&gt;
    &lt;td style="width:37px;"&gt;&lt;/td&gt;
    &lt;td style="width:16px;"&gt;&lt;/td&gt;
    &lt;td style="width:86px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <sblk:InterestFinanceCostsTableTextBlock contextRef="FYp0YTD">&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" rowspan="2" style=" border:solid #000000 0.0px;width:417px;height:36px;"&gt;&lt;div style="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:220px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended &lt;br/&gt;June 30,&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&lt;b&gt;2014 &amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;2015&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:94px;height:12px;"&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:30px;"&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:94px;"&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="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Interest on long term debt &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$3,936 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$16,991 &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:417px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Less: Interest capitalized &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1,252&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(6,221&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:38px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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="middle" style=" border:solid #000000 0.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;1,491 &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:417px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Amortization of loan expenses &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;284 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:30px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;1,199 &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:417px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Other bank and finance charges &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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;89&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:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;411&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:417px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Interest and finance costs&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:double #000000 3.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$3,057 &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:double #000000 3.0px;width:30px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;$13,871 &lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td style="width:417px;"&gt;&lt;/td&gt;
    &lt;td style="width:94px;"&gt;&lt;/td&gt;
    &lt;td style="width:30px;"&gt;&lt;/td&gt;
    &lt;td style="width:94px;"&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</sblk:InterestFinanceCostsTableTextBlock>
  <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock contextRef="FYp0YTD">&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:477px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;93,128&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;140,554&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;89,780&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;203,411&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;215,902&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&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:29px;"&gt;&lt;div style="text-indent:13.3px;"&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:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;115,293&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:477px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total (including 8% 2019 Notes)&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;858,068&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:477px;height:14px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excluding 8.00% 2019 Notes&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50,000&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:477px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total Long term debt&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;808,068&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:477px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Long term debt -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:93px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;93,128&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:477px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Long term debt -&amp;#160;non-current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&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:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;714,940&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:ScheduleOfDebtTableTextBlock contextRef="FYp0YTD">&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:392px;height:26px;"&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:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&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;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:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Commerzbank $120,000 and $26,000 facilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;74,680&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;44,417&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Credit Agricole Corporate and Investment Bank $70,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;54,968&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;52,998&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;ABN AMRO Bank N.V. $31,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;12,800&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH Nordbank AG $64,500 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;29,600&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,547&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSH Nordbank AG $35,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;33,187&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;31,979&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Deutsche Bank AG $39,000 facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;36,660&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;35,100&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;ABN $87,458 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;76,689&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;71,740&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Deutsche Bank $85,000 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;82,708&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;79,875&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSBC $86,600 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;83,490&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;80,380&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;CEXIM $57,360 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&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:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" style=" border:solid #000000 0.0px;width:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;HSBC $20,000 Dioriga Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;19,300&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;18,600&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;NIBC $32,000 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&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:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" style=" border:solid #000000 0.0px;width:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;BNP $32,480 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;32,480&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;31,406&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excel Vessel Bridge Facility &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;56,161&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DVB $24,750 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,750&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;22,950&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excel Vessel CiT Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;30,000&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" style=" border:solid #000000 0.0px;width:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sinosure Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;37,366&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Citi Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;51,478&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;87,329&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Heron Vessels Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,567&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;21,589&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DNB $120,000 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;88,275&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;text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;106,712&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DVB $31,000 Deep Blue Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;28,680&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;DNB-SEB-CEXIM 227,500 Facility&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&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:solid #000000 0.0px;width:23px;"&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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;32,400&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:392px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8.00% 2019 Notes&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50,000&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;50,000&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:392px;height:13px;"&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:double #000000 3.0px;width:28px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" 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:94px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;861,793&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;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:23px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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" 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:76px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;858,068&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:ScheduleOfDebtTableTextBlock>
  <us-gaap:ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock contextRef="FYp0YTD">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:38px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:112px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:341px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:57px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:38px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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 1.0px;width:112px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;2,723&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:341px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:57px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:38px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:112px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,723&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:AdvancesForVesselsAcquisitionsTableTextBlock contextRef="FYp0YTD">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:39px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;br/&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:102px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;270,947&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;206,997&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Fair value adjustment (Note 1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;137,923&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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:21px;"&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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;86,400&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:264px;height:25px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Bareboat capital leases -&amp;#160;upfront hire and handling fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;31,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;44,551&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;10,654&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;14,636&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;3,542&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;4,554&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:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Advances for secondhand vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:21px;"&gt;&lt;div style="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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;79&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&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:21px;"&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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:102px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&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="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(19,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:102px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;454,612&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:79px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;337,671&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:ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock contextRef="FYp0YTD">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 33.3px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Twelve month periods ending&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,640&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,640&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,640&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;9,572&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;12,370&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June 30, 2021 and thereafter&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&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:21px;"&gt;&lt;div style="text-indent:13.3px;"&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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;58,016&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:379px;height:15px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total capital lease minimum payments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;105,878&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:379px;height:16px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Excluding bareboat interest &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;24,198&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:379px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Total lease commitments&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;81,680&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:379px;height:13px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:66px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;4,380&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:379px;height:12px;"&gt;&lt;div style="text-indent:13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Lease commitments -&amp;#160;non-current portion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;77,300&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock>
  <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="FYp0YTD">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 40.0px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:27px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Vessels&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,541,538&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,857,658&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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Fair value adjustment &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;100,065&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;151,588&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:307px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,683&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;1,701&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:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Impairment charge&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:17px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&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="middle" style=" border:solid #000000 0.0px;width:17px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&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 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(8,282&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,643,286&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;2,002,665&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:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Accumulated depreciation&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:17px;"&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 1.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(201,435&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&amp;#160;&lt;/font&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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px;width:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(230,001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="middle"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:17px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:105px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,441,851&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:17px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:104px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;1,772,664&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="FYp0YTD">&lt;div style="text-indent:0.0px;"&gt;&lt;/div&gt;
&lt;table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 40.0px;pt;border-collapse: collapse; border: none"&gt;
  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:26px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;December 31, 2014&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;June 30, 2015&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:158px;height:12px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;6,853&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,106&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:158px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;7,515&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;8,585&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:158px;height:13px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;14,368&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:18px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="middle" 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:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;16,691&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:158px;height:13px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#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;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:103px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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:ScheduleOfInventoryCurrentTableTextBlock>
  <sblk:ListVesselsUnderCommercialTechnicalManagementTableTextBlock contextRef="FYp0YTD">&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="bottom" style=" border:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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="bottom" style=" border:solid #000000 0.0px;width:128px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:101px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Effective Date&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;of Management&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Agreement&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:solid #000000 0.0px;width:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Global Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Kymopolia&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;176,990&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;January&amp;#160;30, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;OOCAPE1 Holdings LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Obelix&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October&amp;#160;19, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pacific Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Pantagruel&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October&amp;#160;24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sea Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Big Bang&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August&amp;#160;30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Sky Cape Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Big Fish&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;October&amp;#160;18, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Majestic Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Madredeus&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Nautical Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Amami&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Grain Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Pendulum&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;82,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;17, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Mineral Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Mercurial Virgo&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;81,545&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;February&amp;#160;17, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:128px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Renascentia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:128px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Marto&lt;/i&gt; (3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;August&amp;#160;2, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Glory Supra Shipping LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Strange Attractor&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September&amp;#160;24, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Premier Voyage LLC (1)&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-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Maiden Voyage&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;September&amp;#160;28, 2012&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:196px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:128px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;i&gt;Serenity I&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;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:131px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;June&amp;#160;11, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;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:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;The respective companies were related parties, please refer to Note 3, which became wholly owned subsidiaries following the completion of the Merger on July&amp;#160;11, 2014, when the respective management agreements were terminated.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On June 20, 2014, this vessel was sold and the management agreement between Starbulk S.A. and the previous owners was terminated. The Company received management fees for a period of two months following the termination date, in accordance with the terms of the management agreement&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;On July&amp;#160;3, 2014, the Company received a notice of termination of the management agreement for the vessel &lt;i&gt;Marto&lt;/i&gt;, one of the third-party owned vessels under the Company's management. &amp;#160;The management agreement was terminated upon the vessel's delivery to its new managers, on August&amp;#160;20, 2014. &amp;#160;The Company was entitled to receive management fees for a period of three months following the termination date, in accordance with the terms of the management agreement.&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;/div&gt;</sblk:ListVesselsUnderCommercialTechnicalManagementTableTextBlock>
  <sblk:ListNonVesselOwningSubsidiaries contextRef="FYp0YTD">&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Wholly Owned Subsidiaries&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Management Inc.&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Starbulk S.A.&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk Manning LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Omas LLC (1) &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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Synergy LLC (1)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Shipping LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Oceanbulk Carriers LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;International Holdings LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Unity Holding LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Bulk (USA) LLC&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXI LLC (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
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  &lt;tr&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIV LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVII LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXXI LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXIX LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Trident XXVIII LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Lamda LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Alpha LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Beta LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Ypsilon LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Mega LLC (2)&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:135px;height:11px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Star Big LLC (2)&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:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Entities established to merge with the holding companies of Oceanbulk&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Owning companies of vessels which were sold that currently have no operations&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"&gt;&lt;/div&gt;</sblk:ListNonVesselOwningSubsidiaries>
  <sblk:ListNewbuildingsTableTextBlock contextRef="FYp0YTD">&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="bottom" style=" border:solid #000000 0.0px;width:23px;height:11px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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" rowspan="2" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Newbuildings Name&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Type&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Expected Delivery&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sea Diamond Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 167 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Goliath) &lt;/i&gt;(Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Coral Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 184 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Maharaj) &lt;/i&gt;(Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Ennea LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 198 (tbn &lt;i&gt;Star Poseidon&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Clearwater Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1359 (tbn &lt;i&gt;Star Marisa&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Seeker LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1372 (tbn &lt;i&gt;Star Libra&lt;/i&gt;) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Domus Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1360 (tbn &lt;i&gt;Star Ariadne&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Castle&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1342 (tbn &lt;i&gt;Star Gemini&lt;/i&gt;) (1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Breezer LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1371 (tbn &lt;i&gt;Star Virgo&lt;/i&gt;) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Festive Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1361 (tbn &lt;i&gt;Star Magnanimus&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;May&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Castle&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1343 (tbn &lt;i&gt;Star Leo&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;White Sand Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1363 (tbn &lt;i&gt;Star Chaucer&lt;/i&gt;) (1) (2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Newcastlemax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;208,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Confidence Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5055 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Behemoth)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Runner Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5056 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Megalodon)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Olympia Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1312 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Bruno Marks)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Victory Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1313 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Jenmark)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Cape&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1338 (tbn &lt;i&gt;Star Aries&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Cape&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1339 (tbn &lt;i&gt;Star Taurus&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Capesize&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Blooming Navigation LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1080 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Kennadi)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Jasmine Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1081 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Mackenzie)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Oday Marine LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1082 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Night Owl)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Searay Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 1083 &lt;i&gt;(&lt;/i&gt;tbn&lt;i&gt; Early Bird)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Axe&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 196 (tbn &lt;i&gt;Star Antares&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Axe&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN NE 197 (tbn &lt;i&gt;Star Lutas&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 2016&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Asia&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5040 (tbn &lt;i&gt;Star Aquarius&lt;/i&gt;) (Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;2015&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:23px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:180px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Asia&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:218px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;HN 5043 (tbn &lt;i&gt;Star Pisces&lt;/i&gt;) (Note 15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:87px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;Ultramax&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:52px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:88px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;2015&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:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels acquired pursuant to the Merger and the Pappas Transaction&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Subject to a capital bareboat lease (Note 6)&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;/div&gt;</sblk:ListNewbuildingsTableTextBlock>
  <sblk:ListOfSubsidiariesTableTextBlock contextRef="FYp0YTD">&lt;div style="text-align:right;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:22px;height:11px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:193px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:146px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:63px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Date&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:91px;"&gt;&lt;div style="text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:22px;height:21px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;b&gt;Delivered to Star Bulk&lt;/b&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:solid #000000 0.0px;width:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Pearl Shiptrade LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Gargantua (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;209,529&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;L.A. Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Deep Blue (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,608&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;May 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;3 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Ocean Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Leviathan (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,511&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;4 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Cape Horizon Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Peloreus (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,496&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;22, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;5 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Positive Shipping Company&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Indomitable (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;182,476&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 8, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;6 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;OOCAPE1 Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Obelix (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;181,433&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;7 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sandra Shipco LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Pauline (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2008&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;8 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Christine Shipco LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Christine (tbr Star Martha) (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2010&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;9 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Pacific Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pantagruel (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;180,181&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;10 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Borealis LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Borealis&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,678&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;9, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;11 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Polaris LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Polaris&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;179,600&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November&amp;#160;14, 2011&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;12 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident V LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angie (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,931&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;13 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sky Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Fish (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;177,643&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;14 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Global Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kymopolia (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;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:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;15 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Sea Cape Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Big Bang (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;174,109&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;16 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Aurora LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aurora&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;171,199&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2010&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;17 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Lowlands Beilun Shipco LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Despoina (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;170,162&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;18 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident VII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Eleonora (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;19 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident VI LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Monisha (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;164,218&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 2, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;20 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Nautical Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Amami (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;21 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Majestic Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Madredeus (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;22 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Sirius LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sirius&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March&amp;#160;7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;23 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Vega LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vega&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;98,681&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February&amp;#160;13, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2011&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;24 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Alta II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Angelina (3)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,981&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;25 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Alta I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gwyneth (3)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,790&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;26 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Kamila &lt;/i&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,769&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;3, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;27 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Grain Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Pendulum (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,619&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;28 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XIX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Maria (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,598&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 5, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;29 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Markella (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,594&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;30 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident IX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Danai (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,574&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 21, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;31 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XI LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Georgia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,298&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 14, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;32 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident VIII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Sophia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,269&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 31, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2007&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;33 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XVI LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Mariella (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;34 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XIV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Moira (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,257&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 19, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;35 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XVIII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nina (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,224&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 5, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;36 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident X LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Renee (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,221&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 18, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;37 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nasia &amp;#160;(2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,220&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;38 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XIII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Laura (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;39 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Jennifer (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,209&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 15, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;40 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XVII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Helena (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;82,187&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December 29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;41 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Mineral Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Mercurial Virgo (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,545&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;42 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;KMSRX Holdings LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Magnum Opus (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;43 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Dioriga Shipping Co.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Tsu Ebisu (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;81,001&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2014&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;44 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident&amp;#160;III LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Iris (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,466&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;8, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;45 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident IV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Aline (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,429&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;4, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;46 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Emily (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;76,417&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;September&amp;#160;16, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2004&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;47 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXII LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Natalie &amp;#160;(2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;73,798&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;August&amp;#160;29, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1998&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;48 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXIII LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Nicole (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;73,751&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 14, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1997&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;49 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXV LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Vanessa (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;72,493&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;November 7, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1999&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;50 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXVI LLC &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Claudia (2)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;71,662&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January 20, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1997&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;51 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Spring Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Idee Fixe (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,458&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 25, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Orion Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Roberta (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,426&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;March 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Success Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Laura (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April 7, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;54 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Ultra Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Kaley (1)(4)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63,283&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;June 26, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Challenger&amp;#160;I LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Challenger&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,462&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;12, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2012&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;56 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Challenger&amp;#160;II LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Fighter&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,455&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;30, 2013&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2013&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;57 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Aurelia Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Honey Badger (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,297&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;58 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Rainbow Maritime LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Wolverine (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61,297&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;February 27, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2015&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;59 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Premier Voyage LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Maiden Voyage (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;58,722&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2012&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;60 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Glory Supra Shipping LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Strange Attractor (1)&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;55,742&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;11, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2006&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;61 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Omicron LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Omicron&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,489&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;April&amp;#160;17, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;62 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Gamma LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Gamma&lt;/i&gt; (ex &lt;i&gt;C Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;53,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;4, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2002&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;63 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Zeta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Zeta&lt;/i&gt; (ex&amp;#160;I &lt;i&gt;Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,994&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;64 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Delta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Delta &lt;/i&gt;(ex &lt;i&gt;F Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,434&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;January&amp;#160;2, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2000&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;65 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Theta LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Theta&lt;/i&gt; (ex &lt;i&gt;J Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,425&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;6, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2003&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;66 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Epsilon LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Epsilon&lt;/i&gt; (ex &lt;i&gt;G Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,402&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;3, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;67 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Cosmo LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Cosmo&lt;/i&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,246&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;July&amp;#160;1, 2008&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2005&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;68 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Kappa LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Kappa&lt;/i&gt; (ex &lt;i&gt;E Duckling&lt;/i&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;52,055&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;December&amp;#160;14, 2007&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;2001&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:22px;height:11px;"&gt;&lt;div style="text-indent:0.0px;text-align:right"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;69 &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:193px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&amp;#160;Star Trident XXX LLC&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:146px;"&gt;&lt;div style="text-align:justify;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&lt;i&gt;Star Michele &lt;/i&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:63px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;45,588&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" style=" border:solid #000000 0.0px;width:98px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;October 14, 2014&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;1998&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="margin-bottom:4.0px;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels acquired pursuant to the Merger and the Pappas Transaction&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(2)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels acquired pursuant to the Excel Transactions&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(3) &amp;#160;&amp;#160;Vessels acquired from Heron&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(4)&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;Vessels subject to a capital bareboat lease (Note 5)&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;
&lt;div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"&gt;&lt;/div&gt;</sblk:ListOfSubsidiariesTableTextBlock>
  <us-gaap:BusinessAcquisitionProFormaInformationTextBlock contextRef="FYp0YTD">&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&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:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&amp;#160;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:center;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;&lt;b&gt;Six month period ended June 30, 2014&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:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma revenues&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;73,448&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:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma operating loss&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(4,637&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma net loss&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;(12,270&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td valign="bottom"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;)&lt;/font&gt;&lt;/td&gt;
  &lt;/tr&gt;
  &lt;tr&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"&gt;&lt;div style="margin-left: 14.4px;text-indent:-13.3px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "&gt;Pro forma loss per share, basic and diluted&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
    &lt;td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"&gt;&lt;div style="text-align:right;text-indent:0.0px;"&gt;&lt;font style="font-family:Times New Roman;font-size:13.3px;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;(0.15)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;
  &lt;/tr&gt;
&lt;/table&gt;
&lt;div&gt;&lt;/div&gt;</us-gaap:BusinessAcquisitionProFormaInformationTextBlock>
  <sblk:VesselNet contextRef="FYp0Qp0e__CollateralPledgedMember" decimals="-3" unitRef="USD">1528386000</sblk:VesselNet>
  <sblk:NumberOfVessels contextRef="FYp0Qp0e__CollateralPledgedMember" decimals="0" unitRef="purenodecimals">56</sblk:NumberOfVessels>
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  <us-gaap:DerivativeAssetNotionalAmount contextRef="FYp0Qp0e__InterestRateSwap2Member" decimals="-3" unitRef="USD">27129000</us-gaap:DerivativeAssetNotionalAmount>
  <us-gaap:DerivativeAssetNotionalAmount contextRef="FYp0Qp0e__InterestRateSwap1Member" decimals="-3" unitRef="USD">25869000</us-gaap:DerivativeAssetNotionalAmount>
  <us-gaap:InterestExpenseLesseeAssetsUnderCapitalLease contextRef="FYp0YTD__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">872000</us-gaap:InterestExpenseLesseeAssetsUnderCapitalLease>
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  <us-gaap:AssetImpairmentCharges contextRef="d01-01-2015to28-05-2015__MaidenVoyageIMember__FairValueAdjustmentMember" decimals="-3" unitRef="USD">4411000</us-gaap:AssetImpairmentCharges>
  <us-gaap:AssetImpairmentCharges contextRef="d01-01-2015to28-05-2015__MaidenVoyageIMember" decimals="-3" unitRef="USD">8282000</us-gaap:AssetImpairmentCharges>
  <us-gaap:CapitalLeaseObligationsNoncurrent contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">77300000</us-gaap:CapitalLeaseObligationsNoncurrent>
  <us-gaap:CapitalLeaseObligationsCurrent contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">4380000</us-gaap:CapitalLeaseObligationsCurrent>
  <us-gaap:ContractualObligationDueAfterFifthYear contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">-252070000</us-gaap:ContractualObligationDueAfterFifthYear>
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  <us-gaap:ContractualObligationDueInNextTwelveMonths contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">30186000</us-gaap:ContractualObligationDueInNextTwelveMonths>
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  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">-27488000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">-27151000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">-27219000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">-26123000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">-4803000</us-gaap:CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDue contextRef="FYp0Qp0e__BareboatCommitmentsCharterHireMember" decimals="-3" unitRef="USD">-364854000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
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  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo contextRef="FYp0Qp0e__BareboatCapitalLeasesMember" decimals="-3" unitRef="USD">-1344000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo>
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  <us-gaap:LineOfCreditFacilityCovenantTerms contextRef="FYp0YTD__DNB-SEB-CEXIMFacilityMember">Under the DNB-SEB-CEXIM $227,500 Facility, the Company is not allowed to pay dividends until December 2017, if the Company's liquid funds are not greater than $200,000 or $2,000 per fleet vessel.</us-gaap:LineOfCreditFacilityCovenantTerms>
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  <dei:TradingSymbol contextRef="FYp0YTD__Issuance50MillionNotesMember">SBLKL</dei:TradingSymbol>
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  <us-gaap:CommonStockCapitalSharesReservedForFutureIssuance contextRef="i13-04-2015__EquityIncentivePlan2015Member" decimals="0" unitRef="Shares">1400000</us-gaap:CommonStockCapitalSharesReservedForFutureIssuance>
  <us-gaap:DerivativeMaturityDates contextRef="d01-01-2013to30-09-2013__GoldmanSachsSwapsMember">2018-04-01</us-gaap:DerivativeMaturityDates>
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  <sblk:AccumulatedAssetImpairmentCharges contextRef="FYp0Qp0e__PropertyPlantAndEquipmentMember" decimals="-3" unitRef="USD">8282000</sblk:AccumulatedAssetImpairmentCharges>
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  <us-gaap:LineOfCreditFacilityCovenantCompliance contextRef="FYp0YTD">As of December 31, 2014 and June 30, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements.</us-gaap:LineOfCreditFacilityCovenantCompliance>
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- a minimum percentage of aggregate vessel value to loans secured;
- a maximum ratio of total liabilities to market value adjusted total assets;
- a minimum EBITDA to interest coverage ratio;
- a minimum liquidity; and
- a minimum equity ratio.
As of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $35,200, respectively, which is included within "Cash and cash equivalents" in the accompanying balance sheets.  In addition, as of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,789, respectively, which is included within "Restricted cash" in the accompanying balance sheets.</us-gaap:LineOfCreditFacilityCovenantTerms>
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  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to07-08-2015__StarPiscesMember__NIBCFacilityMember" decimals="-3" unitRef="USD">15237000</us-gaap:ProceedsFromLinesOfCredit>
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  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to15-07-2015__GoliathAndMaharajMember__DNB-SEB-CEXIMFacilityMember" decimals="-3" unitRef="USD">60600000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to02-04-2015__DNB-SEB-CEXIMFacilityMember__Tranche1Member" decimals="-3" unitRef="USD">32400000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to08-01-2015__IndomitableMember__BNPFacilityMember" decimals="-3" unitRef="USD">32480000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to27-05-2015__DeepBlueMember__DVBDeepBlueFacilityMember" decimals="-3" unitRef="USD">28680000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to02-04-2015__GargantuaMember__DNB-SEB-CEXIMFacilityMember" decimals="-3" unitRef="USD">32400000</us-gaap:ProceedsFromLinesOfCredit>
  <us-gaap:ProceedsFromLinesOfCredit contextRef="d01-01-2015to27-02-2015__HoneyBadgerWolverineMember__SinosureFacilityMember" decimals="-3" unitRef="USD">38162000</us-gaap:ProceedsFromLinesOfCredit>
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  <us-gaap:DebtInstrumentConvertibleConversionRatio1 contextRef="d01-01-2014to11-07-2014__OceanbulkIMember" decimals="2" unitRef="purenodecimals">0.5</us-gaap:DebtInstrumentConvertibleConversionRatio1>
  <us-gaap:AssetImpairmentCharges contextRef="FYp0YTD__MergerPappasTransactionMember__FairValueAdjustmentMember" decimals="-3" unitRef="USD">2500000</us-gaap:AssetImpairmentCharges>
  <us-gaap:AssetImpairmentCharges contextRef="FYp0YTD__RelatedPartiesAgreementSaleOfVesselMember__FairValueAdjustmentMember" decimals="-3" unitRef="USD">11300000</us-gaap:AssetImpairmentCharges>
  <sblk:NumberOfNewbuildingContracts contextRef="i11-7-2014__PappasCompaniesMember__VesselsUnderConstructionMember" decimals="0" unitRef="purenodecimals">1</sblk:NumberOfNewbuildingContracts>
  <sblk:NumberOfNewbuildingContracts contextRef="i11-7-2014__OceanbulkIMember__VesselsUnderConstructionMember" decimals="0" unitRef="purenodecimals">25</sblk:NumberOfNewbuildingContracts>
  <us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet contextRef="FYp0YTD" decimals="-3" unitRef="USD">-227000</us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet>
  <us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet contextRef="FYm1YTD" decimals="-3" unitRef="USD">0</us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet>
  <sblk:InterestRateDerivativeGainLossRealizedInEarningsNet contextRef="FYp0YTD__GoldmanSachsSwapsMember__AfterDe-designationOfAccountingHedgingRelationshipMember" decimals="-3" unitRef="USD">-1344000</sblk:InterestRateDerivativeGainLossRealizedInEarningsNet>
  <sblk:InterestRateDerivativeGainLossRealizedInEarningsNet contextRef="FYm1YTD__GoldmanSachsSwapsMember__AfterDe-designationOfAccountingHedgingRelationshipMember" decimals="-3" unitRef="USD">0</sblk:InterestRateDerivativeGainLossRealizedInEarningsNet>
  <us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="FYp0YTD__GoldmanSachsSwapsMember__AfterDe-designationOfAccountingHedgingRelationshipMember" decimals="-3" unitRef="USD">883000</us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="FYm1YTD__GoldmanSachsSwapsMember__AfterDe-designationOfAccountingHedgingRelationshipMember" decimals="-3" unitRef="USD">0</us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="FYp0YTD__CreditAgricoleSwapsMember__BeforeHedgingDesginationMember" decimals="-3" unitRef="USD">0</us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments contextRef="FYm1YTD__CreditAgricoleSwapsMember__BeforeHedgingDesginationMember" decimals="-3" unitRef="USD">-819000</us-gaap:GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments>
  <us-gaap:AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax contextRef="i31-03-2015__GoldmanSachsSwapsMember" decimals="-3" unitRef="USD">3639000</us-gaap:AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="d01-01-2015to13-04-2015__EmployeeStockOptionMember">P5Y0M0D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="FYm1Qp0e__InterchartAcquisitionSharesIssuanceMember" decimals="2" unitRef="purenodecimals">0.33</us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
  <us-gaap:LongTermDebt contextRef="FYm1Q4e" decimals="-3" unitRef="USD">861793000</us-gaap:LongTermDebt>
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  <us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="FYm1Qp0e__InterchartShippingIIMember" decimals="4" unitRef="purenodecimals">0.33</us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
  <sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare contextRef="FYp0YTD__SalvageValueMember" decimals="2" unitRef="EPS">0.02</sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare>
  <sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome contextRef="FYp0YTD__SalvageValueMember" decimals="-3" unitRef="USD">3273000</sblk:NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome>
  <sblk:VesselsSalvageValuePerLightWeightTon contextRef="FYp0YTD__SalvageValueMember" decimals="0" unitRef="USD">300</sblk:VesselsSalvageValuePerLightWeightTon>
  <sblk:VesselsSalvageValuePerLightWeightTon contextRef="FYm1YTE__SalvageValueMember" decimals="0" unitRef="USD">200</sblk:VesselsSalvageValuePerLightWeightTon>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__KaleyMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__RobertaMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__WolverineMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__HoneyBadgerMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__LauraMember">2015</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYp0YTD__IdeeFixeMember">2015</sblk:VesselYearBuilt>
  <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="FYp0YTD" decimals="0" unitRef="Shares">171736658</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
  <us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted contextRef="FYm1YTD" decimals="0" unitRef="Shares">28973621</us-gaap:WeightedAverageNumberOfShareOutstandingBasicAndDiluted>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">81680000</us-gaap:CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments>
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  <us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive contextRef="FYp0Qp0e" decimals="-3" unitRef="USD">115293000</us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive>
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  <us-gaap:LineOfCreditFacilityPeriodicPayment contextRef="d01-01-2015to31-03-2015__DNB-SEB-CEXIMFacilityMember" decimals="0" unitRef="USD">508400</us-gaap:LineOfCreditFacilityPeriodicPayment>
  <us-gaap:LineOfCreditFacilityFrequencyOfPayments contextRef="d01-01-2015to31-03-2015__DNB-SEB-CEXIMFacilityMember">quarterly</us-gaap:LineOfCreditFacilityFrequencyOfPayments>
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  <us-gaap:AssetImpairmentCharges contextRef="FYp0YTD__RelatedPartiesAgreementSaleOfVesselMember" decimals="-3" unitRef="USD">16458000</us-gaap:AssetImpairmentCharges>
  <sblk:PurchasePriceObligation contextRef="d01-01-2014to17-02-2014__CSSCSecondVesselMember" decimals="-3" unitRef="USD">13919000</sblk:PurchasePriceObligation>
  <sblk:PurchasePriceObligation contextRef="d01-01-2014to17-02-2014__CSSCFirstVesselMember" decimals="-3" unitRef="USD">14160000</sblk:PurchasePriceObligation>
  <us-gaap:SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds contextRef="i17-02-2014__CSSCFirstVesselMember__FinancedBySWSOwnerMember" decimals="-3" unitRef="USD">47200000</us-gaap:SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds>
  <us-gaap:SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds contextRef="i17-02-2014__CSSCSecondVesselMember__FinancedBySWSOwnerMember" decimals="-3" unitRef="USD">46400000</us-gaap:SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds>
  <sblk:AdvancesForVesselsUnderCapitalLeases contextRef="FYp0YTD" decimals="-3" unitRef="USD">15669000</sblk:AdvancesForVesselsUnderCapitalLeases>
  <us-gaap:SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds contextRef="i27-12-2013__MergerPappasTransactionMember" decimals="-3" unitRef="USD">46400000</us-gaap:SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds>
  <sblk:VesselCapacity contextRef="i27-12-2013__MergerPappasTransactionMember" decimals="0" unitRef="purenodecimals">208000</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="i17-02-2014__CSSCVesselsMember" decimals="0" unitRef="purenodecimals">208000</sblk:VesselCapacity>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">24198000</us-gaap:CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDue contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">105878000</us-gaap:CapitalLeasesFutureMinimumPaymentsDue>
  <us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive contextRef="FYp0Qp0e__CapitalLeaseObligationsMember" decimals="-3" unitRef="USD">58016000</us-gaap:CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive>
  <sblk:PurchasePriceObligation contextRef="FYp0YTD__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">6000000</sblk:PurchasePriceObligation>
  <us-gaap:PaymentsToAcquireEquipmentOnLease contextRef="FYp0YTD__NewYangzijiangVesselsMember__FinancedByNewYangzijiangOwnerMember" decimals="-3" unitRef="USD">20680000</us-gaap:PaymentsToAcquireEquipmentOnLease>
  <us-gaap:CapitalLeasedAssetsNumberOfUnits contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="0" unitRef="purenodecimals">4</us-gaap:CapitalLeasedAssetsNumberOfUnits>
  <us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">123210000</us-gaap:CapitalLeasesBalanceSheetAssetsByMajorClassNet>
  <us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="-3" unitRef="USD">842000</us-gaap:CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation>
  <sblk:VesselCapacity contextRef="FYp0Qp0e__NewYangzijiangVesselsMember" decimals="0" unitRef="purenodecimals">64000</sblk:VesselCapacity>
  <us-gaap:ChangeInAccountingEstimateFinancialEffect contextRef="FYp0YTD__SalvageValueMember">The effect of this change in accounting estimate, which pursuant to Accounting Standards Codification ('ASC') "Accounting Changes and Error Corrections" was applied prospectively and did not require retrospective application, was to decrease the depreciation expense and the net loss for the six month period ended June 30, 2015, by $3,273 or $0.02 loss per basic and diluted share.</us-gaap:ChangeInAccountingEstimateFinancialEffect>
  <us-gaap:ChangeInAccountingEstimateDescription contextRef="FYp0YTD__SalvageValueMember">Effective January 1, 2015, and following management's reassessment of the residual value of the Company's vessels, the estimated scrap value per light weight tonnage was increased from $0.2 to $0.3.  The current value of $0.3 was based on the historical average demolition prices prevailing in the market.</us-gaap:ChangeInAccountingEstimateDescription>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__MaidenVoyageIMember">2012</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__StrangeAttractorIMember">2006</sblk:VesselYearBuilt>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__MaidenVoyageIMember" decimals="0" unitRef="purenodecimals">58722</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__StrangeAttractorIMember" decimals="0" unitRef="purenodecimals">55742</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__MercurialVirgoIMember" decimals="0" unitRef="purenodecimals">81545</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__PendulumIMember" decimals="0" unitRef="purenodecimals">82619</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__AmamiIMember" decimals="0" unitRef="purenodecimals">98681</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__MadredeusIMember" decimals="0" unitRef="purenodecimals">98681</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__BigBangIMember" decimals="0" unitRef="purenodecimals">174109</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__PantagruelIMember" decimals="0" unitRef="purenodecimals">180181</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__ObelixIMember" decimals="0" unitRef="purenodecimals">181433</sblk:VesselCapacity>
  <sblk:VesselCapacity contextRef="FYm1Qp0e__KymopoliaIMember" decimals="0" unitRef="purenodecimals">176990</sblk:VesselCapacity>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__PendulumIMember">2006</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__AmamiIMember">2011</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__MadredeusIMember">2011</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__BigFishIMember">2004</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__BigBangIMember">2007</sblk:VesselYearBuilt>
  <sblk:VesselYearBuilt contextRef="FYm1YTD__PantagruelIMember">2004</sblk:VesselYearBuilt>
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    name="InsuranceCoverageMaximumAmount"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_InterchartAcquisitionSharesIssuanceMember"
    name="InterchartAcquisitionSharesIssuanceMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_InterchartShippingIIMember"
    name="InterchartShippingIIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_InterchartShippingMember"
    name="InterchartShippingMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_InterestFinanceCostsTableTextBlock"
    name="InterestFinanceCostsTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet"
    name="InterestRateDerivativeGainLossRealizedInEarningsNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_InterestRateSwap1Member"
    name="InterestRateSwap1Member"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_InterestRateSwap2Member"
    name="InterestRateSwap2Member"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_InterestRateSwapsMember"
    name="InterestRateSwapsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_Issuance50MillionNotesMember"
    name="Issuance50MillionNotesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"
    name="IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_KaleyMember"
    name="KaleyMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_KamsarmaxVesselsMember"
    name="KamsarmaxVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_KymopoliaIMember"
    name="KymopoliaIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LauraMember"
    name="LauraMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost"
    name="LeaseAgreementsMaximumAmountToFinanceConstructionCost"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_LeviathanMember"
    name="LeviathanMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"
    name="LineOfCreditFacilityNumberOfRepaymentInstallment"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_ListNewbuildingsTableTextBlock"
    name="ListNewbuildingsTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ListNonVesselOwningSubsidiaries"
    name="ListNonVesselOwningSubsidiaries"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ListOfSubsidiariesTableTextBlock"
    name="ListOfSubsidiariesTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
    name="ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_LowlandsBeilunMember"
    name="LowlandsBeilunMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_LubricantsInventoryCurrent"
    name="LubricantsInventoryCurrent"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_MadredeusIMember"
    name="MadredeusIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MagnumOpusMember"
    name="MagnumOpusMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MaidenVoyageIMember"
    name="MaidenVoyageIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ManagedVesselsOceanBulkShippingMember"
    name="ManagedVesselsOceanBulkShippingMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ManagementFeesTextBlock"
    name="ManagementFeesTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_MartoMember"
    name="MartoMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MaryvilleMaritimeIncMember"
    name="MaryvilleMaritimeIncMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MercurialVirgoIMember"
    name="MercurialVirgoIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MergerPappasTransaction2Member"
    name="MergerPappasTransaction2Member"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MergerPappasTransactionMember"
    name="MergerPappasTransactionMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_MinimumLiquidFundsMember"
    name="MinimumLiquidFundsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_MinimumLiquidFundsPerVesselMember"
    name="MinimumLiquidFundsPerVesselMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NIBCFacilityMember"
    name="NIBCFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
    name="NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
    type="num:perShareItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
    name="NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_NewYangzijiangVesselsMember"
    name="NewYangzijiangVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NewbuildingVesselsMember"
    name="NewbuildingVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_NonExecutiveDirectorsCompensation"
    name="NonExecutiveDirectorsCompensation"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_NonExecutiveDirectorsMember"
    name="NonExecutiveDirectorsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_NumberOfLoanTranches"
    name="NumberOfLoanTranches"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfNewbuildingContracts"
    name="NumberOfNewbuildingContracts"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_NumberOfVessels"
    name="NumberOfVessels"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
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    id="sblk_ObelixIMember"
    name="ObelixIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkIMember"
    name="OceanbulkIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkMaritimeMember"
    name="OceanbulkMaritimeMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OceanbulkSellersMember"
    name="OceanbulkSellersMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_OtherComprehensiveIncomeLossAbstract"
    name="OtherComprehensiveIncomeLossAbstract"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_OtherVesselAcquisitionCosts"
    name="OtherVesselAcquisitionCosts"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_PanamaxVesselsMember"
    name="PanamaxVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PantagruelIMember"
    name="PantagruelIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PappasCompaniesMember"
    name="PappasCompaniesMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PaymentsForPostemploymentBenefitsShares"
    name="PaymentsForPostemploymentBenefitsShares"
    type="xbrli:sharesItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"
    name="PaymentsToAcquireAboveMarketAcquiredTimeCharters"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_PeloreusMember"
    name="PeloreusMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_PendulumIMember"
    name="PendulumIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ProcurementServicesDailyFee"
    name="ProcurementServicesDailyFee"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ProductShippingTradingMember"
    name="ProductShippingTradingMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_PurchasePriceObligation"
    name="PurchasePriceObligation"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_RelatedPartiesAgreementSaleOfVesselMember"
    name="RelatedPartiesAgreementSaleOfVesselMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_RelatedPartiesCommissionsFees"
    name="RelatedPartiesCommissionsFees"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
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    id="sblk_RenascentiaMember"
    name="RenascentiaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_RobertaMember"
    name="RobertaMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_RodonMember"
    name="RodonMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SWSVesselsMember"
    name="SWSVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SaleVesselsMember"
    name="SaleVesselsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SandraMember"
    name="SandraMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
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    id="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
    name="ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_SchedulePurchasePriceAllocation1TableTextBlock"
    name="SchedulePurchasePriceAllocation1TableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ScrapValuePerLightWeightTon"
    name="ScrapValuePerLightWeightTon"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_Second-priorityMortgageMember"
    name="Second-priorityMortgageMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SecondInstallmentMember"
    name="SecondInstallmentMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SerenityIMember"
    name="SerenityIMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_ServicesAgreementAnnualLumpFeeRemuneration"
    name="ServicesAgreementAnnualLumpFeeRemuneration"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ServicesAgreementDailyFeeRemunerationPerVessel"
    name="ServicesAgreementDailyFeeRemunerationPerVessel"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_ServicesAgreementMonthlyLumpFeeRemuneration"
    name="ServicesAgreementMonthlyLumpFeeRemuneration"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
    name="ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
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    name="Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
    name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
    type="num:perShareItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"
    name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"
    type="xbrli:sharesItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"
    name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"
    type="xbrli:sharesItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"
    name="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"
    type="num:perShareItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ShareholderAgreementDirectorsNominationRight"
    name="ShareholderAgreementDirectorsNominationRight"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_ShipProcurementServicesS.A.Member"
    name="ShipProcurementServicesS.A.Member"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SignificantCharterersMember"
    name="SignificantCharterersMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_SinosureFacilityMember"
    name="SinosureFacilityMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_StarAlineMember"
    name="StarAlineMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_StarAlphaMember"
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    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselNet"
    name="VesselNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselOperatingExpensesTableTextBlock"
    name="VesselOperatingExpensesTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselRedeliveryDate"
    name="VesselRedeliveryDate"
    type="xbrli:dateItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselType"
    name="VesselType"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselYearBuilt"
    name="VesselYearBuilt"
    type="xbrli:stringItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselsAcquired"
    name="VesselsAcquired"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_VesselsAndOtherFixedAssetsNet"
    name="VesselsAndOtherFixedAssetsNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselsDelivered"
    name="VesselsDelivered"
    type="xbrli:integerItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    nillable="true" />
  <element
    id="sblk_VesselsHeldForSalePolicyTextBlock"
    name="VesselsHeldForSalePolicyTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselsInOperationsMember"
    name="VesselsInOperationsMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VesselsNet"
    name="VesselsNet"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="instant"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VesselsSalvageValuePerLightWeightTon"
    name="VesselsSalvageValuePerLightWeightTon"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VesselsUnderConstructionMember"
    name="VesselsUnderConstructionMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_VoyageExpenses"
    name="VoyageExpenses"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_VoyageExpensesTableTextBlock"
    name="VoyageExpensesTableTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_VoyageRevenues"
    name="VoyageRevenues"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="credit"
    nillable="true" />
  <element
    id="sblk_VoyageVesselOperatingExpensesTextBlock"
    name="VoyageVesselOperatingExpensesTextBlock"
    type="nonnum:textBlockItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    nillable="true" />
  <element
    id="sblk_WolverineMember"
    name="WolverineMember"
    type="nonnum:domainItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    abstract="true"
    nillable="true" />
  <element
    id="sblk_WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
    name="WriteOffOfUnamortizedFairValueOfBelowMarketAcquiredTimeCharterOnVesselRedelivery"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
  <element
    id="sblk_WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
    name="WriteOffOfUnamortizedTimeCharterTerminationDeferredRevenue"
    type="xbrli:monetaryItemType"
    substitutionGroup="xbrli:item"
    xbrli:periodType="duration"
    xbrli:balance="debit"
    nillable="true" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>5
<FILENAME>sblk-20150630_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--
Taxonomy Calculation Links linkbase based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 08:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2015 UBmatrix inc., All Rights Reserved
Produced on 2015-09-24 18:09:13
-->
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  <roleRef xlink:type="simple"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <calculationArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
      xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_OtherAssetsCurrent"
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      use="optional" />
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" />
    <calculationArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
      xlink:from="us-gaap_Assets" xlink:to="us-gaap_PropertyPlantAndEquipmentNet"
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      use="optional" />
    <loc xlink:type="locator"
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    <calculationArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item"
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    <loc xlink:type="locator"
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    <calculationArc xlink:type="arc"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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      xlink:from="us-gaap_LiabilitiesAndStockholdersEquity"
      xlink:to="us-gaap_Liabilities"
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      use="optional" />
    <loc xlink:type="locator"
      xlink:label="us-gaap_LiabilitiesCurrent"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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Taxonomy Definition Links linkbase based on XBRL standard Version 2.1.
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Contact www.ubmatrix.com
Copyright (c) 2002-2015 UBmatrix inc., All Rights Reserved
Produced on 2015-09-24 18:09:13
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>7
<FILENAME>sblk-20150630_lab.xml
<DESCRIPTION>XBRL LABEL FILE
<TEXT>
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Taxonomy Label Links linkbase based on XBRL standard Version 2.1.
Created by UBmatrix Taxonomy Designer 3.0.2.2383 (2008-08-05 08:43).
Contact www.ubmatrix.com
Copyright (c) 2002-2015 UBmatrix inc., All Rights Reserved
Produced on 2015-09-24 18:09:13
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityVoluntaryFilers"
      xlink:to="dei_EntityVoluntaryFilers_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityVoluntaryFilers_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Voluntary Filers</label>
    <loc xlink:type="locator"
      xlink:label="dei_EntityWellKnownSeasonedIssuer"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_EntityWellKnownSeasonedIssuer"
      xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Entity Well Known Seasoned Issuer</label>
    <loc xlink:type="locator"
      xlink:label="dei_LegalEntityAxis"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_LegalEntityAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal Entity [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="dei_TradingSymbol"
      xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" />
    <label xlink:type="resource"
      xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Trading Symbol</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ABNFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_ABNFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ABNFacilityMember" xlink:to="sblk_ABNFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ABNFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility ABN $87,458.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABNFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ABN Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ABNFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABN $87,458 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AbnAmroBankMember"
      xlink:href="sblk-20150630.xsd#sblk_AbnAmroBankMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AbnAmroBankMember" xlink:to="sblk_AbnAmroBankMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AbnAmroBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility ABN Amro Bank N.V. $31,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AbnAmroBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Abn Amro Bank [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AbnAmroBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">ABN Amro Bank N.V. $31,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"
      xlink:href="sblk-20150630.xsd#sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases"
      xlink:to="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of advances related with the acquisition of vessels, bareboats, etc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Advances For Vessels Under Capital Leases</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges"
      xlink:href="sblk-20150630.xsd#sblk_AccumulatedAssetImpairmentCharges" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedAssetImpairmentCharges"
      xlink:to="sblk_AccumulatedAssetImpairmentCharges_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Asset Impairment Charges</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedAssetImpairmentCharges_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Impairment charge</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts"
      xlink:href="sblk-20150630.xsd#sblk_AccumulatedCapitalizedInterestAndFinanceCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedCapitalizedInterestAndFinanceCosts"
      xlink:to="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of accumulated interest and finance costs as part of vessels under construction and acquisitions cost basis.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Capitalized Interest And Finance Costs</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedCapitalizedInterestAndFinanceCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capitalized interest and finance costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments"
      xlink:href="sblk-20150630.xsd#sblk_AccumulatedPreDeliveryYardInstallments" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedPreDeliveryYardInstallments"
      xlink:to="sblk_AccumulatedPreDeliveryYardInstallments_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of pre-delivery installments to the yard, for vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Pre Delivery Yard Installments</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedPreDeliveryYardInstallments_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-delivery yard installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees"
      xlink:href="sblk-20150630.xsd#sblk_AccumulatedUpfrontHireAndHandlingFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AccumulatedUpfrontHireAndHandlingFees"
      xlink:to="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of upfront hire &amp; handling fees for vessels under capital leases.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Upfront Hire And Handling Fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_AccumulatedUpfrontHireAndHandlingFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment"
      xlink:href="sblk-20150630.xsd#sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment"
      xlink:to="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The additional cash outflow  associated with the acquisition of property, plant and equipment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Additional Payments To Acquire Property Plant And Equipment</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Additional payments to acquire property plant and equipment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancePaymentForVesselDisposal"
      xlink:href="sblk-20150630.xsd#sblk_AdvancePaymentForVesselDisposal" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancePaymentForVesselDisposal"
      xlink:to="sblk_AdvancePaymentForVesselDisposal_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of advance payment for vessel disposal.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advance Payment For Vessel Disposal</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to buyers (Note 5)</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancePaymentForVesselDisposal_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Advances from sale of vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForSecondhandVessels"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForSecondhandVessels" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForSecondhandVessels"
      xlink:to="sblk_AdvancesForSecondhandVessels_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForSecondhandVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Discloses the period end balance amount of advances for Secondhand vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForSecondhandVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Secondhand Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForSecondhandVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for secondhand vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForVesselsAcquisitionsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsAcquisitionsTableTextBlock"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure for advances paid to yard and capitalized expenses for the acquisition of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Acquisitions [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForVesselsAcquisitionsTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsAcquisitionsTextBlock"
      xlink:to="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for advances paid to yards and capitalized expenses for acquisition of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Acquisitions [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsAcquisitionsTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForVesselsUnderCapitalLeases" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderCapitalLeases"
      xlink:to="sblk_AdvancesForVesselsUnderCapitalLeases_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cash outflow associated with the acquisition of vessels, bareboats, etc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Capital Leases</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderCapitalLeases_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances for vessels under construction and acquisition of vessels and other assets [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances for vessels under construction and acquisition of vessels [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Advances for vessels under construction and acquisition of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Construction And Acquisition Of Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for vessels under construction and acquisition of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
      xlink:href="sblk-20150630.xsd#sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered"
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    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The value of vessels under construction delivered in the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Advances For Vessels Under Construction And Acquisition Of Vessels Vessels Delivered</label>
    <label xlink:type="resource"
      xlink:label="sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsVesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels delivered (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"
      xlink:href="sblk-20150630.xsd#sblk_AfterDe-designationOfAccountingHedgingRelationshipMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember"
      xlink:to="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">After De-designation Of Accounting Hedging Relationship [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AfterDe-designationOfAccountingHedgingRelationshipMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">After de-designation of accounting hedging relationship (April 1, 2015)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"
      xlink:href="sblk-20150630.xsd#sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice"
      xlink:to="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The aggregate reduction of the purchase price of vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Aggregate Reduction Of Vessels Under Construction Purchase Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregate reduction of the purchase price of certain of the newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings"
      xlink:href="sblk-20150630.xsd#sblk_AgreedExtraCostsForNewbuildings" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AgreedExtraCostsForNewbuildings"
      xlink:to="sblk_AgreedExtraCostsForNewbuildings_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of agreed extra costs for newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Agreed Extra Costs For Newbuildings</label>
    <label xlink:type="resource"
      xlink:label="sblk_AgreedExtraCostsForNewbuildings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreed extra costs for newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmamiIMember"
      xlink:href="sblk-20150630.xsd#sblk_AmamiIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmamiIMember" xlink:to="sblk_AmamiIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmamiIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Amami.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmamiIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amami I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmamiIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amami</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:href="sblk-20150630.xsd#sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter"
      xlink:to="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amortization of the asset arising from the market value of the time charter assumed from a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amortization Of Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amortization</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Amortization</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Amortization of fair value of above market acquired time charters (Note 7)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmountDrawnDown"
      xlink:href="sblk-20150630.xsd#sblk_AmountDrawnDown" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmountDrawnDown" xlink:to="sblk_AmountDrawnDown_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmountDrawnDown_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of loan that has been drawn down.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountDrawnDown_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amount Drawn Down</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountDrawnDown_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount drawn down</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt"
      xlink:href="sblk-20150630.xsd#sblk_AmountUsedForPrepaymentOfDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AmountUsedForPrepaymentOfDebt"
      xlink:to="sblk_AmountUsedForPrepaymentOfDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of cash outflow for prepayment of an obligation from a lender.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Amount Used For Prepayment Of Debt</label>
    <label xlink:type="resource"
      xlink:label="sblk_AmountUsedForPrepaymentOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepayments of lines of credit</label>
    <loc xlink:type="locator"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated"
      xlink:href="sblk-20150630.xsd#sblk_AssetsFairValueAdjustmentAccumulated" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_AssetsFairValueAdjustmentAccumulated"
      xlink:to="sblk_AssetsFairValueAdjustmentAccumulated_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Accumulated amount of addition (reduction) to the amount at which an asset could be incurred (settled) at the time of acquisition between willing parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Assets Fair Value Adjustment Accumulated</label>
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value adjustment</label>
    <label xlink:type="resource"
      xlink:label="sblk_AssetsFairValueAdjustmentAccumulated_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fair value adjustment (Notes 1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BNPCommittedTermSheetMember"
      xlink:href="sblk-20150630.xsd#sblk_BNPCommittedTermSheetMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BNPCommittedTermSheetMember"
      xlink:to="sblk_BNPCommittedTermSheetMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BNPCommittedTermSheetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The commited term sheet with the bank BNP Paribas.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPCommittedTermSheetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">BNP Committed Term Sheet [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPCommittedTermSheetMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">BNP committed term sheet</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BNPFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_BNPFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BNPFacilityMember" xlink:to="sblk_BNPFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BNPFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility BNP $32,480.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">BNP Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BNPFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">BNP $32,480 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BareboatCapitalLeasesMember"
      xlink:href="sblk-20150630.xsd#sblk_BareboatCapitalLeasesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BareboatCapitalLeasesMember"
      xlink:to="sblk_BareboatCapitalLeasesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCapitalLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The bareboat capital leases - upfront hire &amp; handling fees.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCapitalLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bareboat Capital Leases [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCapitalLeasesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees (2)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember"
      xlink:href="sblk-20150630.xsd#sblk_BareboatCommitmentsCharterHireMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BareboatCommitmentsCharterHireMember"
      xlink:to="sblk_BareboatCommitmentsCharterHireMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The bareboat commitments charter hire.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bareboat Commitments Charter Hire [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BareboatCommitmentsCharterHireMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat commitments charter hire (3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BeforeHedgingDesginationMember"
      xlink:href="sblk-20150630.xsd#sblk_BeforeHedgingDesginationMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BeforeHedgingDesginationMember"
      xlink:to="sblk_BeforeHedgingDesginationMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BeforeHedgingDesginationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Before Hedging Desgination [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BeforeHedgingDesginationMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Before hedging designation (August 31, 2014)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BigBangIMember"
      xlink:href="sblk-20150630.xsd#sblk_BigBangIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BigBangIMember" xlink:to="sblk_BigBangIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BigBangIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Big Bang.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigBangIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Big Bang I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigBangIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Big Bang</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BigFishIMember"
      xlink:href="sblk-20150630.xsd#sblk_BigFishIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BigFishIMember" xlink:to="sblk_BigFishIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BigFishIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Big Fish.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigFishIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Big Fish I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_BigFishIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Big Fish</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BrokerageCommissionPercentage"
      xlink:href="sblk-20150630.xsd#sblk_BrokerageCommissionPercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BrokerageCommissionPercentage"
      xlink:to="sblk_BrokerageCommissionPercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BrokerageCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The commission charged by brokers, as a percentage of the agreed price.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BrokerageCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Brokerage Commission Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_BrokerageCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Brokerage commission</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BunkerInventoryCurrent"
      xlink:href="sblk-20150630.xsd#sblk_BunkerInventoryCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BunkerInventoryCurrent"
      xlink:to="sblk_BunkerInventoryCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BunkerInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying amount as of the balance sheet date of bunker's inventory.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BunkerInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bunker Inventory Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_BunkerInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bunkers</label>
    <loc xlink:type="locator"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted"
      xlink:href="sblk-20150630.xsd#sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted"
      xlink:to="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The pro forma basic and diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Business Acquisition Pro Forma Earnings Per Share Basic And Diluted</label>
    <label xlink:type="resource"
      xlink:label="sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pro forma loss per share, basic and diluted</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CEXIMFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_CEXIMFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CEXIMFacilityMember"
      xlink:to="sblk_CEXIMFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility CEXIM $57,360.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CEXIM Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CEXIM $57,360 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CSSCFirstVesselMember"
      xlink:href="sblk-20150630.xsd#sblk_CSSCFirstVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CSSCFirstVesselMember"
      xlink:to="sblk_CSSCFirstVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CSSCFirstVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The First CSSC Vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCFirstVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CSSC First Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCFirstVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC First Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CSSCSecondVesselMember"
      xlink:href="sblk-20150630.xsd#sblk_CSSCSecondVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CSSCSecondVesselMember"
      xlink:to="sblk_CSSCSecondVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CSSCSecondVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Second CSSC Vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCSecondVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CSSC Second Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCSecondVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC Second Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CSSCVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_CSSCVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CSSCVesselsMember" xlink:to="sblk_CSSCVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CSSCVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The CSSC Vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">CSSC Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CSSCVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CapesizeVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_CapesizeVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CapesizeVesselsMember"
      xlink:to="sblk_CapesizeVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CapesizeVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Capesize vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapesizeVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capesize Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapesizeVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capesize vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CapitalizedCostsOther"
      xlink:href="sblk-20150630.xsd#sblk_CapitalizedCostsOther" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CapitalizedCostsOther"
      xlink:to="sblk_CapitalizedCostsOther_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CapitalizedCostsOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of accumulated other capitalized costs for vessels under construction and acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapitalizedCostsOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Capitalized Costs Other</label>
    <label xlink:type="resource"
      xlink:label="sblk_CapitalizedCostsOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other capitalized costs (Note 3)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember"
      xlink:href="sblk-20150630.xsd#sblk_ChiefExecutiveOfficerFirstInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChiefExecutiveOfficerFirstInstallmentMember"
      xlink:to="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first installment to the Company's former Chief Executive Officer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Chief Executive Officer First Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChiefExecutiveOfficerFirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First Installment CEO</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ChristineMember"
      xlink:href="sblk-20150630.xsd#sblk_ChristineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ChristineMember" xlink:to="sblk_ChristineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Christine.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Christine [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ChristineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Christine (tbr Star Martha)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CitiFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_CitiFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CitiFacilityMember" xlink:to="sblk_CitiFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CitiFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Citi Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CitiFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Citi Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CollateralPledgedMember"
      xlink:href="sblk-20150630.xsd#sblk_CollateralPledgedMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CollateralPledgedMember"
      xlink:to="sblk_CollateralPledgedMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CollateralPledgedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Assets that are owned and are subjected to first-priority mortgages as collaterals to partially or fully secure a debt obligation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CollateralPledgedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Collateral Pledged [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CollateralPledgedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First-priority mortgage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CombineMarineLtdMember"
      xlink:href="sblk-20150630.xsd#sblk_CombineMarineLtdMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CombineMarineLtdMember"
      xlink:to="sblk_CombineMarineLtdMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Combine Marine Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Combine Marine Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Combine Marine Ltd</label>
    <label xlink:type="resource"
      xlink:label="sblk_CombineMarineLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Combine Marine Ltd.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember"
      xlink:href="sblk-20150630.xsd#sblk_Commerzbank12000026000FacilitiesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Commerzbank12000026000FacilitiesMember"
      xlink:to="sblk_Commerzbank12000026000FacilitiesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facilities Commerzbank $120,000 and $26,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank $120000 And $26000 Facilities [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Commerzbank12000026000FacilitiesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commerzbank $120,000 and $26,000 facilities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_CommerzbankAgAggregateFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CommerzbankAgAggregateFacilityMember"
      xlink:to="sblk_CommerzbankAgAggregateFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The restructuring agreement for the credit facilities Commerzbank $120,000 and $26,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Commerzbank Ag Aggregate Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CommerzbankAgAggregateFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Restructuring Agreement - Commerzbank $120,000 and $26,000 facilities</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ContractualObligationDue"
      xlink:href="sblk-20150630.xsd#sblk_ContractualObligationDue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ContractualObligationDue"
      xlink:to="sblk_ContractualObligationDue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ContractualObligationDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of contractual obligation for the construction of newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ContractualObligationDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Contractual Obligation Due</label>
    <label xlink:type="resource"
      xlink:label="sblk_ContractualObligationDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds"
      xlink:href="sblk-20150630.xsd#sblk_CovenantObligationMinimumLiquidFunds" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CovenantObligationMinimumLiquidFunds"
      xlink:to="sblk_CovenantObligationMinimumLiquidFunds_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Minimum liquid funds for the company to be allowed to pay dividends.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Covenant Obligation Minimum Liquid Funds</label>
    <label xlink:type="resource"
      xlink:label="sblk_CovenantObligationMinimumLiquidFunds_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liquid funds</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember"
      xlink:href="sblk-20150630.xsd#sblk_CreditAgricoleCorporateAndInvestmentBankMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CreditAgricoleCorporateAndInvestmentBankMember"
      xlink:to="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Credit Agricole Corporate and Investment Bank $70,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Credit Agricole Corporate And Investment Bank [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Agricole Corporate and Investment Bank (Loan agreement dated January 20, 2011)</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleCorporateAndInvestmentBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Credit Agricole Corporate and Investment Bank $70,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_CreditAgricoleSwapsMember"
      xlink:href="sblk-20150630.xsd#sblk_CreditAgricoleSwapsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_CreditAgricoleSwapsMember"
      xlink:to="sblk_CreditAgricoleSwapsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Credit Agricole and HSH Nordbank Swaps.</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Credit Agricole Swaps [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_CreditAgricoleSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Credit Agricole and HSH Nordbank Swaps</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_DNB-SEB-CEXIMFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DNB-SEB-CEXIMFacilityMember"
      xlink:to="sblk_DNB-SEB-CEXIMFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility DNB-SEB-CEXIM $227,500.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DNB - SEB - CEXIM Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DNB-SEB-CEXIMFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DNB-SEB-CEXIM $227,500 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DNBFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_DNBFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DNBFacilityMember" xlink:to="sblk_DNBFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DNBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DNB Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DNBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DNB $120,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DVBDeepBlueFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_DVBDeepBlueFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DVBDeepBlueFacilityMember"
      xlink:to="sblk_DVBDeepBlueFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility DVB $31,000 Deep Blue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DVB Deep Blue Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBDeepBlueFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DVB $31,000 Deep Blue Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DVBFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_DVBFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DVBFacilityMember" xlink:to="sblk_DVBFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DVBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DVB Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DVBFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DVB $24,750 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DailyManagementFee"
      xlink:href="sblk-20150630.xsd#sblk_DailyManagementFee" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DailyManagementFee" xlink:to="sblk_DailyManagementFee_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DailyManagementFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fee rate charged daily, persuant to the management agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DailyManagementFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Daily Management Fee</label>
    <label xlink:type="resource"
      xlink:label="sblk_DailyManagementFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Daily fixed management fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount"
      xlink:href="sblk-20150630.xsd#sblk_DebtInstrumentPrepaymentAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DebtInstrumentPrepaymentAmount"
      xlink:to="sblk_DebtInstrumentPrepaymentAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of debt prepaid.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Prepayment Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_DebtInstrumentPrepaymentAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepayment amount</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeepBlueMember"
      xlink:href="sblk-20150630.xsd#sblk_DeepBlueMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeepBlueMember" xlink:to="sblk_DeepBlueMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeepBlueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Deep Blue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeepBlueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deep Blue [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeepBlueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deep Blue</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeliveryDateVessel"
      xlink:href="sblk-20150630.xsd#sblk_DeliveryDateVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeliveryDateVessel" xlink:to="sblk_DeliveryDateVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The date of the vessel delivery to the Company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Delivery Date Of Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Date Delivered to Star Bulk</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeliveryDateVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Expected Delivery Date</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeutscheBankFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_DeutscheBankFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeutscheBankFacilityMember"
      xlink:to="sblk_DeutscheBankFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Deutsche Bank $85,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Deutsche Bank Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deutsche Bank $85,000 Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Deutsche Bank AG $85,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DeutscheBankMember"
      xlink:href="sblk-20150630.xsd#sblk_DeutscheBankMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DeutscheBankMember" xlink:to="sblk_DeutscheBankMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Deutsche Bank AG $39,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">DeutscheBank [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DeutscheBankMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Deutsche Bank AG $39,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DiorigaFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_DiorigaFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DiorigaFacilityMember"
      xlink:to="sblk_DiorigaFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DiorigaFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSBC $20,000 Dioriga.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DiorigaFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Dioriga Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DiorigaFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSBC $20,000 Dioriga Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DirectorsMember"
      xlink:href="sblk-20150630.xsd#sblk_DirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DirectorsMember" xlink:to="sblk_DirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The directors of the company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_DirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_DocumentAndEntityInformationAbstract"
      xlink:href="sblk-20150630.xsd#sblk_DocumentAndEntityInformationAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_DocumentAndEntityInformationAbstract"
      xlink:to="sblk_DocumentAndEntityInformationAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_DocumentAndEntityInformationAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Document And Entity Information [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EffectiveDateManagementAgreement"
      xlink:href="sblk-20150630.xsd#sblk_EffectiveDateManagementAgreement" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EffectiveDateManagementAgreement"
      xlink:to="sblk_EffectiveDateManagementAgreement_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EffectiveDateManagementAgreement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The element refers to the effective date of management agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_EffectiveDateManagementAgreement_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Effective Date of Management Agreement</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2014Member"
      xlink:href="sblk-20150630.xsd#sblk_EquityIncentivePlan2014Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2014Member"
      xlink:to="sblk_EquityIncentivePlan2014Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2014Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Equity incentive plan of 2014</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2014Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2014 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2014Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2014</label>
    <loc xlink:type="locator"
      xlink:label="sblk_EquityIncentivePlan2015Member"
      xlink:href="sblk-20150630.xsd#sblk_EquityIncentivePlan2015Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_EquityIncentivePlan2015Member"
      xlink:to="sblk_EquityIncentivePlan2015Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2015Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The equity incentive plan of 2015.</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2015Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Equity Incentive Plan 2015 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_EquityIncentivePlan2015Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Equity Incentive Plan 2015</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember"
      xlink:to="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Definite agreements in which the company entered with Excel Maritime Carriers Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Maritime Carriers Ltd Definite Agreements [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Definite Agreements with Excel Maritime Carriers Ltd</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facilities Excel Vessel Bridge, Excel Vessel CiT, ABN AMRO $31,000 and Commerzbank $26,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility And Excel Vessel CiT Facility And ABN AMRO $31,000 Facility And Commerzbank 26,000 Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility, Excel Vessel CiT Facility, ABN AMRO $31,000 Facility and Commerzbank 26,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelVesselBridgeFacilityIIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityIIIMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityIIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Excel Vessel Bridge Facility.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility III [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelVesselBridgeFacilityIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityIIMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel vessel Bridge Facility</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility (i)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelVesselBridgeFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselBridgeFacilityMember"
      xlink:to="sblk_ExcelVesselBridgeFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel Bridge Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel Bridge Facility (Note 3 and Note 20)</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselBridgeFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Excel Vessel Bridge Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselCITFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelVesselCITFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselCITFacilityMember"
      xlink:to="sblk_ExcelVesselCITFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselCITFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The crdit facility Excel Vessel CiT.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselCITFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessel CIT Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselCITFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel Vessel CiT Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ExcelVesselsIIMember"
      xlink:href="sblk-20150630.xsd#sblk_ExcelVesselsIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ExcelVesselsIIMember"
      xlink:to="sblk_ExcelVesselsIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Excel Vessels II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ExcelVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Excel vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock"
      xlink:to="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for the asset or liability arising from the market value of the time charter assumed from a vessel acquisition or redelivery upon a time charter agreement termination.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Above Market Acquired Time Charters [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value of Above-Market Acquired Time Charters:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueAdjustmentMember"
      xlink:href="sblk-20150630.xsd#sblk_FairValueAdjustmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueAdjustmentMember"
      xlink:to="sblk_FairValueAdjustmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAdjustmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fair value adjustment portion of impairment charges.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAdjustmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Adjustment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueAdjustmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Impairment charge, Fair value adjustment portion</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract"
      xlink:href="sblk-20150630.xsd#sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract"
      xlink:to="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Above-Market Acquired Time Charters [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter"
      xlink:href="sblk-20150630.xsd#sblk_FairValueOfAboveMarketAcquiredTimeCharter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FairValueOfAboveMarketAcquiredTimeCharter"
      xlink:to="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The asset arising from the market value of the time charter contract assumed from a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/periodEndLabel">Balance</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Balance</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Fair value of above market acquired time charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair Value Of Above Market Acquired Time Charter</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value of above market acquired time charter (Note 7)</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <label xlink:type="resource"
      xlink:label="sblk_FairValueOfAboveMarketAcquiredTimeCharter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Balance</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember"
      xlink:href="sblk-20150630.xsd#sblk_FinancedByNewYangzijiangOwnerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancedByNewYangzijiangOwnerMember"
      xlink:to="sblk_FinancedByNewYangzijiangOwnerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreement with New Yangzijiang Owner to finance the construction cost of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financed By New Yangzijiang Owner [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedByNewYangzijiangOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financed by New Yangzijiang owner</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancedBySWSOwnerMember"
      xlink:href="sblk-20150630.xsd#sblk_FinancedBySWSOwnerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancedBySWSOwnerMember"
      xlink:to="sblk_FinancedBySWSOwnerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FinancedBySWSOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreement with SWS Owner to finance the construction cost of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedBySWSOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financed By SWS owner [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancedBySWSOwnerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Financed by SWS owner</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FinancingHeronVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_FinancingHeronVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FinancingHeronVesselsMember"
      xlink:to="sblk_FinancingHeronVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FinancingHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Financing of Heron Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FinancingHeronVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Vessels Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FirstInstallmentMember"
      xlink:href="sblk-20150630.xsd#sblk_FirstInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FirstInstallmentMember"
      xlink:to="sblk_FirstInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first installment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">First Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FirstInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">First Installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember"
      xlink:href="sblk-20150630.xsd#sblk_FixForwardFloatingInterestRateForLiabilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FixForwardFloatingInterestRateForLiabilityMember"
      xlink:to="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The HSH Nordbank interest rate swaps.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fix Forward Floating Interest Rate For Liability [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FixForwardFloatingInterestRateForLiabilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fix forward 50% of floating interest rate for the HSH Nordbank AG $35,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember"
      xlink:href="sblk-20150630.xsd#sblk_FutureMinimumNonCancellableCharterRevenueMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_FutureMinimumNonCancellableCharterRevenueMember"
      xlink:to="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The future, minimum, non-cancellable charter revenue.</label>
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Future Minimum Non Cancellable Charter Revenue [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_FutureMinimumNonCancellableCharterRevenueMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Future, minimum, non-cancellable charter revenue (1)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainFromInsuranceClaim"
      xlink:href="sblk-20150630.xsd#sblk_GainFromInsuranceClaim" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainFromInsuranceClaim"
      xlink:to="sblk_GainFromInsuranceClaim_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainFromInsuranceClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents the gain arising from insurance claims.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromInsuranceClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain from insurance claim</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromInsuranceClaim_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Gain from insurance claim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainFromWriteOffLiability"
      xlink:href="sblk-20150630.xsd#sblk_GainFromWriteOffLiability" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainFromWriteOffLiability"
      xlink:to="sblk_GainFromWriteOffLiability_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The non-cash gain from the write-off of a liability, relevant to operating activities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain From Write Off Of Liability</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Write-off of liability in other operational gain (non-cash gain) (Note 11)</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Exinguishment of liability related to amount of fuel and lubricants remaining on board</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainFromWriteOffLiability_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Write-off of liability in other operational gain (non cash gain) (Note 11)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings"
      xlink:href="sblk-20150630.xsd#sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings"
      xlink:to="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The aggregate net effect in earnings due to derivatives.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gain Loss On Derivative Instruments Aggregate Net Effect In Earnings</label>
    <label xlink:type="resource"
      xlink:label="sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total Gains/(Losses) recognized</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GargantuaMember"
      xlink:href="sblk-20150630.xsd#sblk_GargantuaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GargantuaMember" xlink:to="sblk_GargantuaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Gargantua.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gargantua [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GargantuaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gargantua</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoldmanSachsSwapsMember"
      xlink:href="sblk-20150630.xsd#sblk_GoldmanSachsSwapsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoldmanSachsSwapsMember"
      xlink:to="sblk_GoldmanSachsSwapsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Goldman Sachs swaps.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goldman Sachs Swaps [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoldmanSachsSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goldman Sachs Swaps</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GoliathAndMaharajMember"
      xlink:href="sblk-20150630.xsd#sblk_GoliathAndMaharajMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GoliathAndMaharajMember"
      xlink:to="sblk_GoliathAndMaharajMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Goliath (ex -HN 167) and Maharaj (ex -HN 185).</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Goliath And Maharaj [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_GoliathAndMaharajMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Goliath (ex -HN 167) and Maharaj (ex -HN 185)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_GrossDailyCharterRate"
      xlink:href="sblk-20150630.xsd#sblk_GrossDailyCharterRate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_GrossDailyCharterRate"
      xlink:to="sblk_GrossDailyCharterRate_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_GrossDailyCharterRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The gross daily charter rate.</label>
    <label xlink:type="resource"
      xlink:label="sblk_GrossDailyCharterRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Gross Daily Charter Rate</label>
    <label xlink:type="resource"
      xlink:label="sblk_GrossDailyCharterRate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Gross daily charter rate</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1080Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1080Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1080Member" xlink:to="sblk_HN1080Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1080Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1080 (tbn Kennadi).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1080Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1080 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1080Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1080 (tbn Kennadi)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1081Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1081Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1081Member" xlink:to="sblk_HN1081Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1081Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1081 (tbn Mackenzie).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1081Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1081 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1081Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1081 (tbn Mackenzie)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1082Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1082Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1082Member" xlink:to="sblk_HN1082Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1082Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1082 (tbn Night Owl).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1082Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1082 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1082Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1082 (tbn Night Owl)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1083Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1083Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1083Member" xlink:to="sblk_HN1083Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1083Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1083 (tbn Early Bird).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1083Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1083 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1083Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1083 (tbn Early Bird)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1312Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1312Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1312Member" xlink:to="sblk_HN1312Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1312Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1312 (tbn Bruno Marks).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1312Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1312 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1312Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1312 (tbn Bruno Marks)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1313Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1313Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1313Member" xlink:to="sblk_HN1313Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1313Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1313 (tbn Jenmark).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1313Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1313 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1313Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 1313 (tbn Jenmark)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1359Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1359Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1359Member" xlink:to="sblk_HN1359Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1359 (tbn Star Marisa).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1359 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1359 (tbn Star Marisa)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1359Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1359 (tbn Star Marisa)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1360Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1360Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1360Member" xlink:to="sblk_HN1360Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1360 (tbn Star Ariadne).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1360 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1360 (tbn Star Ariadne)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1360Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1360 (tbn Star Ariadne)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1361Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1361Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1361Member" xlink:to="sblk_HN1361Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1361 (tbn Star Magnanimus).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1361 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1361(tbn Star Magnanimus)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1361Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1361 (tbn Star Magnanimus)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN1363Member"
      xlink:href="sblk-20150630.xsd#sblk_HN1363Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN1363Member" xlink:to="sblk_HN1363Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1363 (tbn Star Chaucer).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 1363 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull HN 1363 (tbn Star Chaucer)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN1363Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1363 (tbn Star Chaucer)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN5055Member"
      xlink:href="sblk-20150630.xsd#sblk_HN5055Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN5055Member" xlink:to="sblk_HN5055Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN5055Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5055 (tbn Behemoth).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5055Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 5055 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5055Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 5055 (tbn Behemoth)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HN5056Member"
      xlink:href="sblk-20150630.xsd#sblk_HN5056Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HN5056Member" xlink:to="sblk_HN5056Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HN5056Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5056 (tbn Megalodon).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5056Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN 5056 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HN5056Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN 5056 (tbn Megalodon)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HNNE167Member"
      xlink:href="sblk-20150630.xsd#sblk_HNNE167Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HNNE167Member" xlink:to="sblk_HNNE167Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HNNE167Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel  HN NE 167 (tbn Goliath).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE167Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN NE 167 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE167Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN NE 167 (tbn Goliath)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HNNE184Member"
      xlink:href="sblk-20150630.xsd#sblk_HNNE184Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HNNE184Member" xlink:to="sblk_HNNE184Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HNNE184Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel  HN NE 184 (tbn Maharaj).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE184Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HN NE 184 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HNNE184Member_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HN NE 184 (tbn Maharaj)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HSBCFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_HSBCFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HSBCFacilityMember" xlink:to="sblk_HSBCFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HSBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSBC $86,600.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HSBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">HSBC Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HSBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSBC $86,600 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HandlingFees"
      xlink:href="sblk-20150630.xsd#sblk_HandlingFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HandlingFees" xlink:to="sblk_HandlingFees_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HandlingFees_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of fees related to handling fees at acquisition of property, plant and equipment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HandlingFees_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Handling Fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HandymaxVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_HandymaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HandymaxVesselsMember"
      xlink:to="sblk_HandymaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HandymaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Handymax vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HandymaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Handymax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HandymaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Handymax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronVenturesLtdMember"
      xlink:href="sblk-20150630.xsd#sblk_HeronVenturesLtdMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronVenturesLtdMember"
      xlink:to="sblk_HeronVenturesLtdMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Heron Ventures Ltd.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Ventures Ltd [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVenturesLtdMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron Ventures Ltd</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HeronVesselsIIMember"
      xlink:href="sblk-20150630.xsd#sblk_HeronVesselsIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HeronVesselsIIMember"
      xlink:to="sblk_HeronVesselsIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HeronVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The Heron vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Heron Vessels II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HeronVesselsIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Heron vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HoneyBadgerMember"
      xlink:href="sblk-20150630.xsd#sblk_HoneyBadgerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HoneyBadgerMember" xlink:to="sblk_HoneyBadgerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Honey Badger.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Honey Badger [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Honey Badger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HoneyBadgerWolverineMember"
      xlink:href="sblk-20150630.xsd#sblk_HoneyBadgerWolverineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HoneyBadgerWolverineMember"
      xlink:to="sblk_HoneyBadgerWolverineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerWolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Honey Badger and Wolverine.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerWolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Honey Badger And Wolverine [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HoneyBadgerWolverineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Honey Badger and Wolverine</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HshNordbankAg3Member"
      xlink:href="sblk-20150630.xsd#sblk_HshNordbankAg3Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HshNordbankAg3Member"
      xlink:to="sblk_HshNordbankAg3Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSH Nordbank AG $64,500.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hsh Nordbank Ag3 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAg3Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSH Nordbank AG $64,500 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HshNordbankAgMember"
      xlink:href="sblk-20150630.xsd#sblk_HshNordbankAgMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HshNordbankAgMember"
      xlink:to="sblk_HshNordbankAgMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility HSH Nordbank AG $35,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hsh Nordbank Ag [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">HSH Nordbank AG (Loan agreement dated October 3, 2011)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HshNordbankAgMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HSH Nordbank AG $35,000 facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1338Member"
      xlink:href="sblk-20150630.xsd#sblk_Hull1338Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1338Member" xlink:to="sblk_Hull1338Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1338 (tbn Star Aries).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1338 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1338 (tbn Star Aries)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1338Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1338 (tbn Star Aries)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1339Member"
      xlink:href="sblk-20150630.xsd#sblk_Hull1339Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1339Member" xlink:to="sblk_Hull1339Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1339 (tbn Star Taurus).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1339 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1339 (tbn Star Taurus)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1339Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1339 (tbn Star Taurus)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1342Member"
      xlink:href="sblk-20150630.xsd#sblk_Hull1342Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1342Member" xlink:to="sblk_Hull1342Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1342 (tbn Star Gemini).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1342 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1342 (tbn Star Gemini)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1342Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1342 (tbn Star Gemini)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull1343Member"
      xlink:href="sblk-20150630.xsd#sblk_Hull1343Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull1343Member" xlink:to="sblk_Hull1343Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1343 (tbn Star Leo).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 1343 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1343 (tbn Star Leo)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull1343Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1343 (tbn Star Leo)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull5040Member"
      xlink:href="sblk-20150630.xsd#sblk_Hull5040Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull5040Member" xlink:to="sblk_Hull5040Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5040 (tbn Star Aquarius).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 5040 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 5040 (tbn Star Aquarius)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5040Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 5040 (tbn Star Aquarius)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Hull5043Member"
      xlink:href="sblk-20150630.xsd#sblk_Hull5043Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Hull5043Member" xlink:to="sblk_Hull5043Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 5043 (tbn Star Pisces).</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull 5043 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 5043 (tbn Star Pisces)</label>
    <label xlink:type="resource"
      xlink:label="sblk_Hull5043Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 5043 (tbn Star Pisces)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE196Member"
      xlink:href="sblk-20150630.xsd#sblk_HullNE196Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNE196Member" xlink:to="sblk_HullNE196Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN NE 196 (tbn Star Antares).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull NE 196 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull NE 196 (tbn Star Antares)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE196Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN NE 196 (tbn Star Antares)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE197Member"
      xlink:href="sblk-20150630.xsd#sblk_HullNE197Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNE197Member" xlink:to="sblk_HullNE197Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN NE 197 (Star Lutas).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull NE 197 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull NE 197 (Star Lutas)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE197Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN NE 197 (Star Lutas)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNE198Member"
      xlink:href="sblk-20150630.xsd#sblk_HullNE198Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNE198Member" xlink:to="sblk_HullNE198Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN NE 198 (tbn Star Poseidon).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull NE 198 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull NE 198 (tbn Star Poseidon)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNE198Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN NE 198 (tbn Star Poseidon)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNo1371Member"
      xlink:href="sblk-20150630.xsd#sblk_HullNo1371Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNo1371Member" xlink:to="sblk_HullNo1371Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1371 (tbn Star Virgo).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull No 1371 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1371 (tbn Star Virgo)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1371Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1371 (tbn Star Virgo)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_HullNo1372Member"
      xlink:href="sblk-20150630.xsd#sblk_HullNo1372Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_HullNo1372Member" xlink:to="sblk_HullNo1372Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel HN 1372 (tbn Star Libra).</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Hull No 1372 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull 1372 (tbn Star Libra)</label>
    <label xlink:type="resource"
      xlink:label="sblk_HullNo1372Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">HN 1372 (tbn Star Libra)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_IdeeFixeMember"
      xlink:href="sblk-20150630.xsd#sblk_IdeeFixeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_IdeeFixeMember" xlink:to="sblk_IdeeFixeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Idee FIxe.</label>
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Idee Fixe [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_IdeeFixeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Idee Fixe</label>
    <loc xlink:type="locator"
      xlink:label="sblk_IndomitableMember"
      xlink:href="sblk-20150630.xsd#sblk_IndomitableMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_IndomitableMember" xlink:to="sblk_IndomitableMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_IndomitableMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Intomitable.</label>
    <label xlink:type="resource"
      xlink:label="sblk_IndomitableMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Indomitable [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_IndomitableMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Indomitable</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InsuranceCoverageMaximumAmount"
      xlink:href="sblk-20150630.xsd#sblk_InsuranceCoverageMaximumAmount" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InsuranceCoverageMaximumAmount"
      xlink:to="sblk_InsuranceCoverageMaximumAmount_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum amount of Protection and Indemnity (P&amp;I) insurance coverage for pollution, per vessel per incident.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Insurance Coverage Maximum Amount</label>
    <label xlink:type="resource"
      xlink:label="sblk_InsuranceCoverageMaximumAmount_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Coverage for pollution</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember"
      xlink:href="sblk-20150630.xsd#sblk_InterchartAcquisitionSharesIssuanceMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartAcquisitionSharesIssuanceMember"
      xlink:to="sblk_InterchartAcquisitionSharesIssuanceMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Common shares issued as part of the acquisition of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Acquisition Shares Issuance [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartAcquisitionSharesIssuanceMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interchart Acquisition Shares Issuance</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartShippingIIMember"
      xlink:href="sblk-20150630.xsd#sblk_InterchartShippingIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartShippingIIMember"
      xlink:to="sblk_InterchartShippingIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Interchart Shipping Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Shipping II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interchart Shipping Inc</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterchartShippingMember"
      xlink:href="sblk-20150630.xsd#sblk_InterchartShippingMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterchartShippingMember"
      xlink:to="sblk_InterchartShippingMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Interchart Shipping Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interchart Shipping [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interchart Shipping Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterchartShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interchart</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_InterestFinanceCostsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestFinanceCostsTableTextBlock"
      xlink:to="sblk_InterestFinanceCostsTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of interest and finance costs.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest And Finance Costs [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestFinanceCostsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest and finance costs</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet"
      xlink:href="sblk-20150630.xsd#sblk_InterestRateDerivativeGainLossRealizedInEarningsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet"
      xlink:to="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of gain (loss) included in earnings for the period from the settlement of interest rate derivatives not designated as hedging instruments.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Derivative Gain Loss Realized In Earnings Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateDerivativeGainLossRealizedInEarningsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Realized gains/(losses) from the Interest rate swaps agreements</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap1Member"
      xlink:href="sblk-20150630.xsd#sblk_InterestRateSwap1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap1Member"
      xlink:to="sblk_InterestRateSwap1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first interest rate swap agreement with Credit Agricole Corporate and Investment Bank.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap A - fix forward floating interest rate for first tranche of Credit Agricole $70,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwap2Member"
      xlink:href="sblk-20150630.xsd#sblk_InterestRateSwap2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwap2Member"
      xlink:to="sblk_InterestRateSwap2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The second interest rate swap agreement with Credit Agricole Corporate and Investment Bank.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swap2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwap2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest Rate Swap B - fix forward floating interest rate for second tranche of Credit Agricole $70,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_InterestRateSwapsMember"
      xlink:href="sblk-20150630.xsd#sblk_InterestRateSwapsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_InterestRateSwapsMember"
      xlink:to="sblk_InterestRateSwapsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Forward based contracts in which two parties agree to swap periodic payments that are fixed at the outset of the swap contract with variable payments based on a market interest rate (index rate) over a specified period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Interest Rate Swaps [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate swaps (gain)/loss</label>
    <label xlink:type="resource"
      xlink:label="sblk_InterestRateSwapsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Interest Rate Swaps</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Issuance50MillionNotesMember"
      xlink:href="sblk-20150630.xsd#sblk_Issuance50MillionNotesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Issuance50MillionNotesMember"
      xlink:to="sblk_Issuance50MillionNotesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The 2019 Senior Notes.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Issuance of 50 Million Notes [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">8.00% 2019 Notes</label>
    <label xlink:type="resource"
      xlink:label="sblk_Issuance50MillionNotesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">8.00% 2019 Notes</label>
    <loc xlink:type="locator"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"
      xlink:href="sblk-20150630.xsd#sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue"
      xlink:to="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The total value of vested and non-vested shares issued during the period and the total amount of stock based compensation amortized.</label>
    <label xlink:type="resource"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Issuance Of Vested And Non Vested Shares Amortization Stock Based Compensation Value</label>
    <label xlink:type="resource"
      xlink:label="sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 12), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KaleyMember"
      xlink:href="sblk-20150630.xsd#sblk_KaleyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KaleyMember" xlink:to="sblk_KaleyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Kaley.</label>
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kaley [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KaleyMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kaley</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KamsarmaxVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_KamsarmaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KamsarmaxVesselsMember"
      xlink:to="sblk_KamsarmaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KamsarmaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Kamsarmax vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_KamsarmaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kamsarmax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KamsarmaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kamsarmax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_KymopoliaIMember"
      xlink:href="sblk-20150630.xsd#sblk_KymopoliaIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_KymopoliaIMember" xlink:to="sblk_KymopoliaIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_KymopoliaIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Kymopolia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_KymopoliaIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Kymopolia I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_KymopoliaIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Kymopolia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LauraMember"
      xlink:href="sblk-20150630.xsd#sblk_LauraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LauraMember" xlink:to="sblk_LauraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Laura.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Laura [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LauraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Laura</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost"
      xlink:href="sblk-20150630.xsd#sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost"
      xlink:to="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum amount, agreed under a lease arrangement, to finance construction cost.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lease agreements, maximum amount to finance construction cost</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LeviathanMember"
      xlink:href="sblk-20150630.xsd#sblk_LeviathanMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LeviathanMember" xlink:to="sblk_LeviathanMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Leviathan.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Leviathan [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LeviathanMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Leviathan</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"
      xlink:href="sblk-20150630.xsd#sblk_LineOfCreditFacilityNumberOfRepaymentInstallment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment"
      xlink:to="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of repayment installments of a credit facility agreement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Line Of Credit Facility Number Of Repayment Installment</label>
    <label xlink:type="resource"
      xlink:label="sblk_LineOfCreditFacilityNumberOfRepaymentInstallment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of installments</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListNewbuildingsTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_ListNewbuildingsTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListNewbuildingsTableTextBlock"
      xlink:to="sblk_ListNewbuildingsTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the entity's newbuildings.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Newbuildings [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNewbuildingsTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of Newbuildings</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries"
      xlink:href="sblk-20150630.xsd#sblk_ListNonVesselOwningSubsidiaries" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListNonVesselOwningSubsidiaries"
      xlink:to="sblk_ListNonVesselOwningSubsidiaries_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the entity's non-vessel owning subsidiaries.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Non Vessel Owning Subsidiaries</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListNonVesselOwningSubsidiaries_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of Non-vessel owning subsidiaries</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_ListOfSubsidiariesTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListOfSubsidiariesTableTextBlock"
      xlink:to="sblk_ListOfSubsidiariesTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of the entity's subsidiaries.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Subsidiaries [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListOfSubsidiariesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of Subsidiaries</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock"
      xlink:to="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of vessels under commercial and technical management.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">List Of Vessels Under Commercial And Technical Management [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">List of vessels under commercial and technical management by Starbulk S.A.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LowlandsBeilunMember"
      xlink:href="sblk-20150630.xsd#sblk_LowlandsBeilunMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LowlandsBeilunMember"
      xlink:to="sblk_LowlandsBeilunMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Despoina.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lowlands Beilun [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_LowlandsBeilunMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Despoina</label>
    <loc xlink:type="locator"
      xlink:label="sblk_LubricantsInventoryCurrent"
      xlink:href="sblk-20150630.xsd#sblk_LubricantsInventoryCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_LubricantsInventoryCurrent"
      xlink:to="sblk_LubricantsInventoryCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Carrying amount as of the balance sheet date of lubricants' inventory.</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Lubricants Inventory Current</label>
    <label xlink:type="resource"
      xlink:label="sblk_LubricantsInventoryCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Lubricants</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MadredeusIMember"
      xlink:href="sblk-20150630.xsd#sblk_MadredeusIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MadredeusIMember" xlink:to="sblk_MadredeusIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Madredeus.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Madredeus I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MadredeusIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Madredeus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MagnumOpusMember"
      xlink:href="sblk-20150630.xsd#sblk_MagnumOpusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MagnumOpusMember" xlink:to="sblk_MagnumOpusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MagnumOpusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Magnum Opus.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MagnumOpusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Magnum Opus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MagnumOpusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Magnum Opus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MaidenVoyageIMember"
      xlink:href="sblk-20150630.xsd#sblk_MaidenVoyageIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MaidenVoyageIMember"
      xlink:to="sblk_MaidenVoyageIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MaidenVoyageIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Maiden Voyage.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaidenVoyageIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Maiden Voyage I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaidenVoyageIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maiden Voyage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember"
      xlink:href="sblk-20150630.xsd#sblk_ManagedVesselsOceanBulkShippingMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ManagedVesselsOceanBulkShippingMember"
      xlink:to="sblk_ManagedVesselsOceanBulkShippingMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Managed Vessels of Oceanbulk Shipping LLC.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Managed Vessels OceanBulk Shipping [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Managed Vessels of Oceanbulk Shipping LLC</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagedVesselsOceanBulkShippingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Managed Vessels of Oceanbulk Shipping LLC</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ManagementFeesTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_ManagementFeesTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ManagementFeesTextBlock"
      xlink:to="sblk_ManagementFeesTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ManagementFeesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The entire disclosure for management fees.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagementFeesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ManagementFees [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ManagementFeesTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fees</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MartoMember"
      xlink:href="sblk-20150630.xsd#sblk_MartoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MartoMember" xlink:to="sblk_MartoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Marto.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Marto [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MartoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Marto</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MaryvilleMaritimeIncMember"
      xlink:href="sblk-20150630.xsd#sblk_MaryvilleMaritimeIncMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MaryvilleMaritimeIncMember"
      xlink:to="sblk_MaryvilleMaritimeIncMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MaryvilleMaritimeIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Maryville Maritime Inc.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaryvilleMaritimeIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Maryville Maritime Inc [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MaryvilleMaritimeIncMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maryville Maritime Inc.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MercurialVirgoIMember"
      xlink:href="sblk-20150630.xsd#sblk_MercurialVirgoIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MercurialVirgoIMember"
      xlink:to="sblk_MercurialVirgoIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MercurialVirgoIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Mercurial Virgo.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MercurialVirgoIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Mercurial Virgo I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MercurialVirgoIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Mercurial Virgo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MergerPappasTransaction2Member"
      xlink:href="sblk-20150630.xsd#sblk_MergerPappasTransaction2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MergerPappasTransaction2Member"
      xlink:to="sblk_MergerPappasTransaction2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransaction2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">MergerPappasTransaction2Member</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransaction2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger and Pappas Transaction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MergerPappasTransactionMember"
      xlink:href="sblk-20150630.xsd#sblk_MergerPappasTransactionMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MergerPappasTransactionMember"
      xlink:to="sblk_MergerPappasTransactionMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Transactions that resulted in the acquisition of the Oceanbulk holding companies and the "Pappas Companies".</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Merger And Pappas Transaction [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Merger and Pappas Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_MergerPappasTransactionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Merger and Pappas Transaction - five newbuilding vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MinimumLiquidFundsMember"
      xlink:href="sblk-20150630.xsd#sblk_MinimumLiquidFundsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MinimumLiquidFundsMember"
      xlink:to="sblk_MinimumLiquidFundsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The minimum liquid funds that the company is required to maintain under the credit facility covenant terms.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Minimum Liquid Funds [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Company's Minimum Liquid Funds</label>
    <loc xlink:type="locator"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember"
      xlink:href="sblk-20150630.xsd#sblk_MinimumLiquidFundsPerVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_MinimumLiquidFundsPerVesselMember"
      xlink:to="sblk_MinimumLiquidFundsPerVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The minimum liquid funds per vessel that the company is required to maintain under the credit facility covenant terms.</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Minimum Liquid Funds Per Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_MinimumLiquidFundsPerVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Minimum Liquid Funds per Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NIBCFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_NIBCFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NIBCFacilityMember" xlink:to="sblk_NIBCFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NIBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility NIBC $32,000.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NIBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">NIBC Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NIBCFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">NIBC $32,000 Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
      xlink:href="sblk-20150630.xsd#sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare"
      xlink:to="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of the effect of a change in accounting estimate on basic and diluted earnings per share.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncement Or Change In Accounting Estimate Effect Of Change On Basic And Diluted Earnings Per Share</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of change in accounting estimate, loss on basic and diluted earnings per share</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
      xlink:href="sblk-20150630.xsd#sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome"
      xlink:to="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of the effect of a change in accounting estimate on net income.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncement Or Change In Accounting Estimate Effect Of Change On Net Income</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of change in acounting estimate, decrease of charge to net income / (loss)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewYangzijiangVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_NewYangzijiangVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewYangzijiangVesselsMember"
      xlink:to="sblk_NewYangzijiangVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewYangzijiangVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels being built an New Yangzijiang shipyard.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewYangzijiangVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">New Yangzijiang Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewYangzijiangVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">New Yangzijiang Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NewbuildingVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_NewbuildingVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NewbuildingVesselsMember"
      xlink:to="sblk_NewbuildingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Newbuilding vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Newbuilding Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Newbuilding Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NonExecutiveDirectorsCompensation"
      xlink:href="sblk-20150630.xsd#sblk_NonExecutiveDirectorsCompensation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NonExecutiveDirectorsCompensation"
      xlink:to="sblk_NonExecutiveDirectorsCompensation_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Expenditures for compensation for non executive officers.Examples include, but not limited to, Board of Director's attendance fees.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Non Executive Directors Compensation</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-executive directors compensation</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsCompensation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Compensation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NonExecutiveDirectorsMember"
      xlink:href="sblk-20150630.xsd#sblk_NonExecutiveDirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NonExecutiveDirectorsMember"
      xlink:to="sblk_NonExecutiveDirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Non-executive directors of the company.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Non Executive Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_NonExecutiveDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-executive directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfLoanTranches"
      xlink:href="sblk-20150630.xsd#sblk_NumberOfLoanTranches" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfLoanTranches"
      xlink:to="sblk_NumberOfLoanTranches_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfLoanTranches_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of tranches under the credit facility.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfLoanTranches_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Loan Tranches</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfLoanTranches_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of loan tranches</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfNewbuildingContracts"
      xlink:href="sblk-20150630.xsd#sblk_NumberOfNewbuildingContracts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfNewbuildingContracts"
      xlink:to="sblk_NumberOfNewbuildingContracts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of newbuildings contracts acquired.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Newbuilding Contracts</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of contracts for Newbuildings acquired</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfNewbuildingContracts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of newbuilding contracts</label>
    <loc xlink:type="locator"
      xlink:label="sblk_NumberOfVessels"
      xlink:href="sblk-20150630.xsd#sblk_NumberOfVessels" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_NumberOfVessels" xlink:to="sblk_NumberOfVessels_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Number Of Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_NumberOfVessels_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ObelixIMember"
      xlink:href="sblk-20150630.xsd#sblk_ObelixIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ObelixIMember" xlink:to="sblk_ObelixIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ObelixIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Obelix.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ObelixIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Obelix I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ObelixIMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Obelix</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkIMember"
      xlink:href="sblk-20150630.xsd#sblk_OceanbulkIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkIMember" xlink:to="sblk_OceanbulkIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Oceanbulk holding companies.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkMaritimeMember"
      xlink:href="sblk-20150630.xsd#sblk_OceanbulkMaritimeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkMaritimeMember"
      xlink:to="sblk_OceanbulkMaritimeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company OceanBulk Maritime.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk Maritime [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk Maritime S.A. and its affiliates</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkMaritimeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Oceanbulk Maritime S.A.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OceanbulkSellersMember"
      xlink:href="sblk-20150630.xsd#sblk_OceanbulkSellersMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OceanbulkSellersMember"
      xlink:to="sblk_OceanbulkSellersMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkSellersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Oceanbulk Sellers.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkSellersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Oceanbulk Sellers [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OceanbulkSellersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oceanbulk Sellers (Note 13)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract"
      xlink:href="sblk-20150630.xsd#sblk_OtherComprehensiveIncomeLossAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherComprehensiveIncomeLossAbstract"
      xlink:to="sblk_OtherComprehensiveIncomeLossAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other comprehensive income loss [abstract]</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherComprehensiveIncomeLossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other comprehensive loss:</label>
    <loc xlink:type="locator"
      xlink:label="sblk_OtherVesselAcquisitionCosts"
      xlink:href="sblk-20150630.xsd#sblk_OtherVesselAcquisitionCosts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_OtherVesselAcquisitionCosts"
      xlink:to="sblk_OtherVesselAcquisitionCosts_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_OtherVesselAcquisitionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Amount of extra fees related to acquisition of property, plant and equipment.</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherVesselAcquisitionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Other Vessel Acquisition Costs</label>
    <label xlink:type="resource"
      xlink:label="sblk_OtherVesselAcquisitionCosts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other expenses capitalized</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PanamaxVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_PanamaxVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PanamaxVesselsMember"
      xlink:to="sblk_PanamaxVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PanamaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Panamax vessels.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PanamaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Panamax Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PanamaxVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Panamax vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PantagruelIMember"
      xlink:href="sblk-20150630.xsd#sblk_PantagruelIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PantagruelIMember" xlink:to="sblk_PantagruelIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PantagruelIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Pantagruel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PantagruelIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pantagruel I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PantagruelIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pantagruel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PappasCompaniesMember"
      xlink:href="sblk-20150630.xsd#sblk_PappasCompaniesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PappasCompaniesMember"
      xlink:to="sblk_PappasCompaniesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The companies Dioriga Shipping Co. and Positive Shipping Company, collectively the "Pappas Companies".</label>
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pappas Companies [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PappasCompaniesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pappas Companies</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares"
      xlink:href="sblk-20150630.xsd#sblk_PaymentsForPostemploymentBenefitsShares" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PaymentsForPostemploymentBenefitsShares"
      xlink:to="sblk_PaymentsForPostemploymentBenefitsShares_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Shares used for payments of postemployment benefits (such as severance pay and health insurance benefits) recognised during the period. Postemployment benefits are benefits paid to employees after employment but before retirement.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments For Postemployment Benefits Shares</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsForPostemploymentBenefitsShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Severance payments,common shares</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"
      xlink:href="sblk-20150630.xsd#sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters"
      xlink:to="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The cash outflow to acquire above market charters.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Above Market Acquired Time Charters</label>
    <label xlink:type="resource"
      xlink:label="sblk_PaymentsToAcquireAboveMarketAcquiredTimeCharters_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Cash paid for above market acquired time charters (Note 7)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PeloreusMember"
      xlink:href="sblk-20150630.xsd#sblk_PeloreusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PeloreusMember" xlink:to="sblk_PeloreusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Peloreus.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Peloreus [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PeloreusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Peloreus</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PendulumIMember"
      xlink:href="sblk-20150630.xsd#sblk_PendulumIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PendulumIMember" xlink:to="sblk_PendulumIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PendulumIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Pendulum.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PendulumIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pendulum I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_PendulumIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pendulum</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProcurementServicesDailyFee"
      xlink:href="sblk-20150630.xsd#sblk_ProcurementServicesDailyFee" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProcurementServicesDailyFee"
      xlink:to="sblk_ProcurementServicesDailyFee_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProcurementServicesDailyFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The daily fee per vessel for procurement services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProcurementServicesDailyFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Procurement Services Daily Fee</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProcurementServicesDailyFee_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Procurement services daily fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ProductShippingTradingMember"
      xlink:href="sblk-20150630.xsd#sblk_ProductShippingTradingMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ProductShippingTradingMember"
      xlink:to="sblk_ProductShippingTradingMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Product Shipping &amp; Trading S.A.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Product Shipping Trading [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Product Shipping &amp; Trading S.A.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ProductShippingTradingMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Product Shipping &amp; Trading S.A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_PurchasePriceObligation"
      xlink:href="sblk-20150630.xsd#sblk_PurchasePriceObligation" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_PurchasePriceObligation"
      xlink:to="sblk_PurchasePriceObligation_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_PurchasePriceObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Purchase price payable at the end of the bareboat charter.</label>
    <label xlink:type="resource"
      xlink:label="sblk_PurchasePriceObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Purchase Price Obligation</label>
    <label xlink:type="resource"
      xlink:label="sblk_PurchasePriceObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel purchase price obligation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember"
      xlink:href="sblk-20150630.xsd#sblk_RelatedPartiesAgreementSaleOfVesselMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RelatedPartiesAgreementSaleOfVesselMember"
      xlink:to="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Agreements with third parties.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Parties Agreement Sale Of Vessel [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesAgreementSaleOfVesselMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Agreement with a third party - Sale of Vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RelatedPartiesCommissionsFees"
      xlink:href="sblk-20150630.xsd#sblk_RelatedPartiesCommissionsFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RelatedPartiesCommissionsFees"
      xlink:to="sblk_RelatedPartiesCommissionsFees_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Primarily represents commissions incurred in the period based upon the sale by related parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by related parties (such as a distributor or value added reseller).</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Parties Commissions Fees</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Commissions - related parties (Note 3)</label>
    <label xlink:type="resource"
      xlink:label="sblk_RelatedPartiesCommissionsFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RenascentiaMember"
      xlink:href="sblk-20150630.xsd#sblk_RenascentiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RenascentiaMember" xlink:to="sblk_RenascentiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Renascentia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Renascentia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RenascentiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Renascentia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RobertaMember"
      xlink:href="sblk-20150630.xsd#sblk_RobertaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RobertaMember" xlink:to="sblk_RobertaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Roberta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Roberta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RobertaMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Roberta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_RodonMember"
      xlink:href="sblk-20150630.xsd#sblk_RodonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_RodonMember" xlink:to="sblk_RodonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_RodonMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Rodon.</label>
    <label xlink:type="resource"
      xlink:label="sblk_RodonMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Rodon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_RodonMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Rodon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SWSVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_SWSVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SWSVesselsMember" xlink:to="sblk_SWSVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SWSVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">SWS Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SWSVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">SWS Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SaleVesselsMember"
      xlink:href="sblk-20150630.xsd#sblk_SaleVesselsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SaleVesselsMember" xlink:to="sblk_SaleVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SaleVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sale Of Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SaleVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SandraMember"
      xlink:href="sblk-20150630.xsd#sblk_SandraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SandraMember" xlink:to="sblk_SandraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Pauline.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sandra [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SandraMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Pauline</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock"
      xlink:to="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of fair value measurements on a nonrecurring basis.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Fair Value Measurements On Non Recurring Basis [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScheduleFairValueMeasurementsOnNonRecurringBasisTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair value measurements on Non recurring basis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_SchedulePurchasePriceAllocation1TableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SchedulePurchasePriceAllocation1TableTextBlock"
      xlink:to="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Purchase Price Allocation1 [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SchedulePurchasePriceAllocation1TableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule Of Purchase Price Allocation</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ScrapValuePerLightWeightTon"
      xlink:href="sblk-20150630.xsd#sblk_ScrapValuePerLightWeightTon" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ScrapValuePerLightWeightTon"
      xlink:to="sblk_ScrapValuePerLightWeightTon_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ScrapValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">the scrap value of vessels per light weight ton (lwt).</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScrapValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Scrap Value Per Light Weight Ton</label>
    <label xlink:type="resource"
      xlink:label="sblk_ScrapValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">scrap value per light weight ton</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Second-priorityMortgageMember"
      xlink:href="sblk-20150630.xsd#sblk_Second-priorityMortgageMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Second-priorityMortgageMember"
      xlink:to="sblk_Second-priorityMortgageMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Second-priorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Second-priority mortgage [member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Second-priorityMortgageMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Second-priority mortgage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SecondInstallmentMember"
      xlink:href="sblk-20150630.xsd#sblk_SecondInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SecondInstallmentMember"
      xlink:to="sblk_SecondInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SecondInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Second Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SecondInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Second Installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SerenityIMember"
      xlink:href="sblk-20150630.xsd#sblk_SerenityIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SerenityIMember" xlink:to="sblk_SerenityIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SerenityIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Serenity I.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SerenityIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Serenity I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SerenityIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Serenity I</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration"
      xlink:href="sblk-20150630.xsd#sblk_ServicesAgreementAnnualLumpFeeRemuneration" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementAnnualLumpFeeRemuneration"
      xlink:to="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Annual lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Annual Lump Fee Remuneration</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementAnnualLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Annual lump sum fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel"
      xlink:href="sblk-20150630.xsd#sblk_ServicesAgreementDailyFeeRemunerationPerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementDailyFeeRemunerationPerVessel"
      xlink:to="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Daily fee per vessel, as part of the Services Agreement for procurement services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Daily Fee Remuneration Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementDailyFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Daily management fee per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
      xlink:href="sblk-20150630.xsd#sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel"
      xlink:to="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Monthly lump fee per vessel, as part of an agreement for commercial, technical, crewing or brokering services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Monthly Lump Fee Remuneration Per Vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Monthly lump sum management fee per vessel</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration"
      xlink:href="sblk-20150630.xsd#sblk_ServicesAgreementMonthlyLumpFeeRemuneration" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ServicesAgreementMonthlyLumpFeeRemuneration"
      xlink:to="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Monthly lump fee payable to Interchart, as part of the Services Agreement for brokering and commercial services.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Services Agreement Monthly Lump Fee Remuneration</label>
    <label xlink:type="resource"
      xlink:label="sblk_ServicesAgreementMonthlyLumpFeeRemuneration_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Monthly lump sum fee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"
      xlink:href="sblk-20150630.xsd#sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3"
      xlink:to="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Weighted average remaining contractual term for option awards outstanding.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/periodStartLabel">Outstanding at January 1, 2015</label>
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term 3</label>
    <label xlink:type="resource"
      xlink:label="sblk_Share-basedCompensationArrangementByShare-basedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm3_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Outstanding as of June 30, 2015</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
      xlink:href="sblk-20150630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Grant date fair value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"
      xlink:href="sblk-20150630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The number of equity-based payment instruments that has vested during the reporting period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Vested In Period</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of shares vested</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsVestedInPeriod_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Number of shares vested during the period</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"
      xlink:href="sblk-20150630.xsd#sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares"
      xlink:to="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of non-vested options exercised.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share based Compensation Arrangement By Share based Payment Award Options Non vested Options Exercised Number Of Shares</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsNonVestedOptionsExercisedNumberOfShares_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercised</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"
      xlink:href="sblk-20150630.xsd#sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue"
      xlink:to="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Weighted average grant-date fair value of non-vested options exercised.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Share-based Compensation Arrangement By Share-based Payment Award Options Non-vested Options Exercised Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource"
      xlink:label="sblk_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsExercisedWeightedAverageGrantDateFairValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Exercised</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight"
      xlink:href="sblk-20150630.xsd#sblk_ShareholderAgreementDirectorsNominationRight" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShareholderAgreementDirectorsNominationRight"
      xlink:to="sblk_ShareholderAgreementDirectorsNominationRight_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Description of the shareholders agreement under which the shareholders have the right to nominate specific number of directors, according to the percentage of voting securities.</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Shareholder Agreement Directors Nomination Right</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShareholderAgreementDirectorsNominationRight_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Oaktree Shareholders Agreement Drirectors Nomination right</label>
    <loc xlink:type="locator"
      xlink:label="sblk_ShipProcurementServicesS.A.Member"
      xlink:href="sblk-20150630.xsd#sblk_ShipProcurementServicesS.A.Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ShipProcurementServicesS.A.Member"
      xlink:to="sblk_ShipProcurementServicesS.A.Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The company Ship Procurement Services S.A..</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Ship Procurement Services S.A. [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ShipProcurementServicesS.A.Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Ship Procurement Services S.A. ("SPS")</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SignificantCharterersMember"
      xlink:href="sblk-20150630.xsd#sblk_SignificantCharterersMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SignificantCharterersMember"
      xlink:to="sblk_SignificantCharterersMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SignificantCharterersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Significant charterers [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SignificantCharterersMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Significant charterers</label>
    <loc xlink:type="locator"
      xlink:label="sblk_SinosureFacilityMember"
      xlink:href="sblk-20150630.xsd#sblk_SinosureFacilityMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_SinosureFacilityMember"
      xlink:to="sblk_SinosureFacilityMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_SinosureFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The credit facility Sinosure.</label>
    <label xlink:type="resource"
      xlink:label="sblk_SinosureFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Sinosure Facility [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_SinosureFacilityMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sinosure Facility</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAlineMember"
      xlink:href="sblk-20150630.xsd#sblk_StarAlineMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAlineMember" xlink:to="sblk_StarAlineMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAlineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aline.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aline [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlineMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aline</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAlphaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarAlphaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAlphaMember" xlink:to="sblk_StarAlphaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aplha.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Alpha [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Alpha (ex A Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAlphaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Alpha (ex A Duckling) - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAngelinaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarAngelinaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAngelinaMember" xlink:to="sblk_StarAngelinaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAngelinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Angelina.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngelinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Angelina [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngelinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Angelina</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAngieMember"
      xlink:href="sblk-20150630.xsd#sblk_StarAngieMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAngieMember" xlink:to="sblk_StarAngieMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAngieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Angie.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Angie [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAngieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Angie</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAquariusMember"
      xlink:href="sblk-20150630.xsd#sblk_StarAquariusMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAquariusMember" xlink:to="sblk_StarAquariusMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aquarius ( ex-HN 5040).</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aquarius [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAquariusMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aquarius ( ex-HN 5040)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarAuroraMember"
      xlink:href="sblk-20150630.xsd#sblk_StarAuroraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarAuroraMember" xlink:to="sblk_StarAuroraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarAuroraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Aurora.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAuroraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Aurora [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarAuroraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Aurora</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBetaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarBetaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBetaMember" xlink:to="sblk_StarBetaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Beta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Beta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Beta (ex B Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Beta (ex B Duckling) - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBigAndStarMegaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarBigAndStarMegaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBigAndStarMegaMember"
      xlink:to="sblk_StarBigAndStarMegaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBigAndStarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Big And Star Mega [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBigAndStarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Big and Star Mega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBigMember"
      xlink:href="sblk-20150630.xsd#sblk_StarBigMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBigMember" xlink:to="sblk_StarBigMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBigMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Big.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBigMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Big [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBigMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Big</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBorealisIIIMember"
      xlink:href="sblk-20150630.xsd#sblk_StarBorealisIIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBorealisIIIMember"
      xlink:to="sblk_StarBorealisIIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Borealis III [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Borealis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBorealisIIMember"
      xlink:href="sblk-20150630.xsd#sblk_StarBorealisIIMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBorealisIIMember"
      xlink:to="sblk_StarBorealisIIMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Borealis II [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisIIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Borealis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarBorealisMember"
      xlink:href="sblk-20150630.xsd#sblk_StarBorealisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarBorealisMember" xlink:to="sblk_StarBorealisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Borealis.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Borealis [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarBorealisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Borealis</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChallenger1Member"
      xlink:href="sblk-20150630.xsd#sblk_StarChallenger1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarChallenger1Member"
      xlink:to="sblk_StarChallenger1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarChallenger1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Challenger 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChallenger1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Challenger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChallengerMember"
      xlink:href="sblk-20150630.xsd#sblk_StarChallengerMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarChallengerMember"
      xlink:to="sblk_StarChallengerMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarChallengerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Challenger.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChallengerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Challenger [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChallengerMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Challenger</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarChristiannaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarChristiannaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarChristiannaMember"
      xlink:to="sblk_StarChristiannaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarChristiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Christianna.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChristiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Christianna [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarChristiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Christianna</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarClaudiaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarClaudiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarClaudiaMember" xlink:to="sblk_StarClaudiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarClaudiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Claudia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarClaudiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Claudia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarClaudiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Claudia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarCosmoMember"
      xlink:href="sblk-20150630.xsd#sblk_StarCosmoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarCosmoMember" xlink:to="sblk_StarCosmoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Cosmo.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Cosmo [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Cosmo</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarCosmoReducedAmountMember"
      xlink:href="sblk-20150630.xsd#sblk_StarCosmoReducedAmountMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarCosmoReducedAmountMember"
      xlink:to="sblk_StarCosmoReducedAmountMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoReducedAmountMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Cosmo Reduced Amount [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarCosmoReducedAmountMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Cosmo reduced amount</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarDanaiMember"
      xlink:href="sblk-20150630.xsd#sblk_StarDanaiMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarDanaiMember" xlink:to="sblk_StarDanaiMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarDanaiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Danai.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDanaiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Danai [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDanaiMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Danai</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarDeltaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarDeltaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarDeltaMember" xlink:to="sblk_StarDeltaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Delta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Delta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Delta (ex F Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarDeltaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Delta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEleonoraMember"
      xlink:href="sblk-20150630.xsd#sblk_StarEleonoraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEleonoraMember" xlink:to="sblk_StarEleonoraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Eleonora.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Eleonora [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEleonoraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Eleonora</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEmilyMember"
      xlink:href="sblk-20150630.xsd#sblk_StarEmilyMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEmilyMember" xlink:to="sblk_StarEmilyMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEmilyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Emily.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEmilyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Emily [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEmilyMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Emily</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEpsilonAndStarKappa1Member"
      xlink:href="sblk-20150630.xsd#sblk_StarEpsilonAndStarKappa1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEpsilonAndStarKappa1Member"
      xlink:to="sblk_StarEpsilonAndStarKappa1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonAndStarKappa1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Epsilon And Star Kappa 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonAndStarKappa1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Epsilon And Star Kappa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarEpsilonMember"
      xlink:href="sblk-20150630.xsd#sblk_StarEpsilonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarEpsilonMember" xlink:to="sblk_StarEpsilonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Epsilon.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Epsilon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Epsilon (ex G Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarEpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Epsilon</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarFighter1Member"
      xlink:href="sblk-20150630.xsd#sblk_StarFighter1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarFighter1Member" xlink:to="sblk_StarFighter1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarFighter1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Fighter 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarFighter1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Fighter</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarFighterMember"
      xlink:href="sblk-20150630.xsd#sblk_StarFighterMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarFighterMember" xlink:to="sblk_StarFighterMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarFighterMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Fighter.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarFighterMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Fighter [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarFighterMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Fighter</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGammaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarGammaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGammaMember" xlink:to="sblk_StarGammaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Gamma.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Gamma [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Gamma (ex C Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGammaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Gamma</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGeorgiaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarGeorgiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGeorgiaMember" xlink:to="sblk_StarGeorgiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGeorgiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Georgia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGeorgiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Georgia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGeorgiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Georgia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarGwynethMember"
      xlink:href="sblk-20150630.xsd#sblk_StarGwynethMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarGwynethMember" xlink:to="sblk_StarGwynethMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarGwynethMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Gwyneth.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGwynethMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Gwyneth [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarGwynethMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Gwyneth</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarHelenaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarHelenaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarHelenaMember" xlink:to="sblk_StarHelenaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarHelenaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Helena.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarHelenaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Helena [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarHelenaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Helena</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarIrisMember"
      xlink:href="sblk-20150630.xsd#sblk_StarIrisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarIrisMember" xlink:to="sblk_StarIrisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarIrisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Iris.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarIrisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Iris [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarIrisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Iris</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarJenniferMember"
      xlink:href="sblk-20150630.xsd#sblk_StarJenniferMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarJenniferMember" xlink:to="sblk_StarJenniferMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Jennifer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Jennifer [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Jennifer</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember"
      xlink:href="sblk-20150630.xsd#sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember"
      xlink:to="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Star Julia, Star Tatianna, Star Monika and Star Kim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Julia And Star Tatianna And Star Monika And Star Kim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Julia, Star Tatianna, Star Monika and Star Kim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarJuliaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarJuliaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarJuliaMember" xlink:to="sblk_StarJuliaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Julia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Julia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarJuliaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Julia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarKamilaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarKamilaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarKamilaMember" xlink:to="sblk_StarKamilaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarKamilaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Kamila.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKamilaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Kamila [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKamilaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Kamila</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarKappaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarKappaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarKappaMember" xlink:to="sblk_StarKappaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Kappa.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Kappa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Kappa (ex E Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKappaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Kappa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarKimMember"
      xlink:href="sblk-20150630.xsd#sblk_StarKimMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarKimMember" xlink:to="sblk_StarKimMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarKimMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Kim.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKimMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Kim [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarKimMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Kim</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarLauraMember"
      xlink:href="sblk-20150630.xsd#sblk_StarLauraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarLauraMember" xlink:to="sblk_StarLauraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarLauraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Laura.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLauraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Laura [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarLauraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Laura</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMariaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMariaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMariaMember" xlink:to="sblk_StarMariaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMariaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Maria.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Maria [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Maria</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMariellaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMariellaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMariellaMember" xlink:to="sblk_StarMariellaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMariellaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Mariella.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariellaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Mariella [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMariellaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Mariella</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMarkelaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMarkelaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMarkelaMember" xlink:to="sblk_StarMarkelaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMarkelaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Markella.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarkelaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Markela [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMarkelaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Markella</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMegaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMegaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMegaMember" xlink:to="sblk_StarMegaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Mega.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Mega [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Mega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMicheleMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMicheleMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMicheleMember" xlink:to="sblk_StarMicheleMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMicheleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Michele.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMicheleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Michele [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMicheleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Michele</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMoiraMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMoiraMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMoiraMember" xlink:to="sblk_StarMoiraMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMoiraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Moira.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMoiraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Moira [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMoiraMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Moira</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMonikaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMonikaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMonikaMember" xlink:to="sblk_StarMonikaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMonikaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Monika.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMonikaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Monika [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMonikaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Monika</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarMorishaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarMorishaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarMorishaMember" xlink:to="sblk_StarMorishaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarMorishaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Morisha.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMorishaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Morisha [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarMorishaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Monisha</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNasiaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarNasiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNasiaMember" xlink:to="sblk_StarNasiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNasiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Nasia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNasiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nasia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNasiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nasia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNatalieMember"
      xlink:href="sblk-20150630.xsd#sblk_StarNatalieMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNatalieMember" xlink:to="sblk_StarNatalieMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNatalieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Natalie.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNatalieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Natalie [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNatalieMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Natalie</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNicoleMember"
      xlink:href="sblk-20150630.xsd#sblk_StarNicoleMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNicoleMember" xlink:to="sblk_StarNicoleMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNicoleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Nicole.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNicoleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nicole [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNicoleMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nicole</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember"
      xlink:href="sblk-20150630.xsd#sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember"
      xlink:to="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nina And Star Nicole And Star Claudia And Star Morisha And Rodon And Star Jennifer [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarNinaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarNinaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarNinaMember" xlink:to="sblk_StarNinaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Nina.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Nina [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarNinaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Nina</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarOmicronMember"
      xlink:href="sblk-20150630.xsd#sblk_StarOmicronMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarOmicronMember" xlink:to="sblk_StarOmicronMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarOmicronMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Omicron.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarOmicronMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Omicron [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarOmicronMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Omicron</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarPiscesMember"
      xlink:href="sblk-20150630.xsd#sblk_StarPiscesMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarPiscesMember" xlink:to="sblk_StarPiscesMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Pisces (ex-HN 5043).</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Pisces [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPiscesMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Pisces (ex-HN 5043)</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarPolarisMember"
      xlink:href="sblk-20150630.xsd#sblk_StarPolarisMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarPolarisMember" xlink:to="sblk_StarPolarisMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarPolarisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Polaris.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPolarisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Polaris [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarPolarisMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Polaris</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarReneeMember"
      xlink:href="sblk-20150630.xsd#sblk_StarReneeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarReneeMember" xlink:to="sblk_StarReneeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarReneeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Renee.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarReneeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Renee [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarReneeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Renee</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigma2Member"
      xlink:href="sblk-20150630.xsd#sblk_StarSigma2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigma2Member" xlink:to="sblk_StarSigma2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigma2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigma2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember"
      xlink:href="sblk-20150630.xsd#sblk_StarSigmaAmountReceivedForFuelsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigmaAmountReceivedForFuelsMember"
      xlink:to="sblk_StarSigmaAmountReceivedForFuelsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma Amount Received For Fuels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedForFuelsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma - Amount received for fuels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember"
      xlink:href="sblk-20150630.xsd#sblk_StarSigmaAmountReceivedInCashMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigmaAmountReceivedInCashMember"
      xlink:to="sblk_StarSigmaAmountReceivedInCashMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The amount of cash received as compensation for the early redelivery of vessel Star Sigma.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma Amount Received In Cash [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaAmountReceivedInCashMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma - Amount received in cash</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSigmaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarSigmaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSigmaMember" xlink:to="sblk_StarSigmaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Sigma.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sigma [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sigma</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSigmaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Sigma - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSirius2Member"
      xlink:href="sblk-20150630.xsd#sblk_StarSirius2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSirius2Member" xlink:to="sblk_StarSirius2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSirius2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Sirius.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSirius2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sirius2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSirius2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sirius</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSiriusStarVega2Member"
      xlink:href="sblk-20150630.xsd#sblk_StarSiriusStarVega2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSiriusStarVega2Member"
      xlink:to="sblk_StarSiriusStarVega2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessels Star Sirius and Star Vega.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">StarSiriusStarVega2[Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sirius and Star Vega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSiriusStarVegaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarSiriusStarVegaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSiriusStarVegaMember"
      xlink:to="sblk_StarSiriusStarVegaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sirius Star Vega [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSiriusStarVegaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sirius and Star Vega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarSophiaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarSophiaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarSophiaMember" xlink:to="sblk_StarSophiaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarSophiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Sophia.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSophiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Sophia [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarSophiaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Sophia</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarTatiannaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarTatiannaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarTatiannaMember" xlink:to="sblk_StarTatiannaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarTatiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Tatianna.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarTatiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Tatianna [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarTatiannaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Tatianna</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarThetaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarThetaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarThetaMember" xlink:to="sblk_StarThetaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Theta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Theta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Theta (ex J Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarThetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Theta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarVanessaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarVanessaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarVanessaMember" xlink:to="sblk_StarVanessaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarVanessaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Vanessa.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVanessaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Vanessa [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVanessaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Vanessa</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarVega2Member"
      xlink:href="sblk-20150630.xsd#sblk_StarVega2Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarVega2Member" xlink:to="sblk_StarVega2Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Vega.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Vega2 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarVega2Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Vega</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarYpsilonMember"
      xlink:href="sblk-20150630.xsd#sblk_StarYpsilonMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarYpsilonMember" xlink:to="sblk_StarYpsilonMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Ypsilon.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Ypsilon [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Ypsilon</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarYpsilonMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Ypsilon - Disposed</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarZetaMember"
      xlink:href="sblk-20150630.xsd#sblk_StarZetaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarZetaMember" xlink:to="sblk_StarZetaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Star Zeta.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Star Zeta [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Star Zeta (ex I Duckling)</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarZetaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Star Zeta</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarbulkCarriersCorpMember"
      xlink:href="sblk-20150630.xsd#sblk_StarbulkCarriersCorpMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StarbulkCarriersCorpMember"
      xlink:to="sblk_StarbulkCarriersCorpMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkCarriersCorpMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Starbulk Carriers Corp [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StarbulkCarriersCorpMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Starbulk Carriers Corp.</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StarbulkSaMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="sblk_StarbulkSaMember_lbl"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Starbulk S.A.</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the Excel  transaction.</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Excel Transaction</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Excel Transactions (Note 1), shares</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the Heron transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Heron Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesHeronTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Heron Transaction in escrow account (Note 1), shares</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the acquisition of 33% of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesInterchartTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Interchart Transaction</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock - Acquisition of 33% of Interchart (Note 9), shares</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of new stock issued during the period concerning the Merger and the Pappas transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodSharesNewIssuesMergerAndPappasTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Shares New Issues Merger And Pappas Transaction</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Merger and Pappas Transaction (Note 1), shares</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period, concerning the Excel transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Excel Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesExcelTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Excel Transactions (Note 1), value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction"
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    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period, concerning the Heron transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Heron Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesHeronTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Heron Transaction in escrow account (Note 1), value</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction"
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    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period concerning the acquisition of 33% of Interchart.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Interchart Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesInterchartTransaction_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock - Acquisition of 33% of Interchart (Note 9), value</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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      xlink:from="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Equity impact of the value of new stock issued during the period, concerning the Merger and the Pappas transaction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Issued During Period Value New Issues Merger And Pappas Transaction</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockIssuedDuringPeriodValueNewIssuesMergerAndPappasTransaction_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Issuance of common stock Merger and Pappas Transaction (Note 1), value</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockRepurchaseProgramMaximumSharePrice"
      xlink:to="sblk_StockRepurchaseProgramMaximumSharePrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The maximum purchase price per share which has been authorized under the share repurchase plan.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Stock Repurchase Program Maximum Share Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockRepurchaseProgramMaximumSharePrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Share repurchase program - maximum share price</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StockholdersEquityReverseStockSplitRatio"
      xlink:to="sblk_StockholdersEquityReverseStockSplitRatio_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_StockholdersEquityReverseStockSplitRatio_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Stockholders Equity Reverse Stock Split Ratio</label>
    <label xlink:type="resource"
      xlink:label="sblk_StockholdersEquityReverseStockSplitRatio_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Reverse stock split ratio</label>
    <loc xlink:type="locator"
      xlink:label="sblk_StrangeAttractorIMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_StrangeAttractorIMember"
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    <label xlink:type="resource"
      xlink:label="sblk_StrangeAttractorIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Strange Attractor.</label>
    <label xlink:type="resource"
      xlink:label="sblk_StrangeAttractorIMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Strange Attractor I [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_StrangeAttractorIMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Strange Attractor</label>
    <loc xlink:type="locator"
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      xlink:href="sblk-20150630.xsd#sblk_ThirdInstallmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_ThirdInstallmentMember"
      xlink:to="sblk_ThirdInstallmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_ThirdInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Third Installment [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_ThirdInstallmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Third Installment</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TmtCoMember"
      xlink:href="sblk-20150630.xsd#sblk_TmtCoMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TmtCoMember" xlink:to="sblk_TmtCoMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TmtCoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tmt Co [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TmtCoMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">TMT Co</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TonnageTax"
      xlink:href="sblk-20150630.xsd#sblk_TonnageTax" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TonnageTax" xlink:to="sblk_TonnageTax_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TonnageTax_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The tonnage taxes for the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TonnageTax_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tonnage Tax</label>
    <label xlink:type="resource"
      xlink:label="sblk_TonnageTax_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tonnage taxes</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TotalContractualPurchaseObligation"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TotalContractualPurchaseObligation"
      xlink:to="sblk_TotalContractualPurchaseObligation_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TotalContractualPurchaseObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The total amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation to be paid within and after one year from the balance sheet date.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TotalContractualPurchaseObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total Of Contractual Purchase Obligation</label>
    <label xlink:type="resource"
      xlink:label="sblk_TotalContractualPurchaseObligation_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total aggregate remaining contracted price plus agreed additional amounts</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TotalMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TotalMember" xlink:to="sblk_TotalMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TotalMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TotalMember_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="sblk_Tranche1Member"
      xlink:href="sblk-20150630.xsd#sblk_Tranche1Member" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_Tranche1Member" xlink:to="sblk_Tranche1Member_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The first tranche.</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tranche 1 [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_Tranche1Member_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tranche A</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TsuEbisuMember"
      xlink:href="sblk-20150630.xsd#sblk_TsuEbisuMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TsuEbisuMember" xlink:to="sblk_TsuEbisuMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TsuEbisuMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel Tsu Ebisu.</label>
    <label xlink:type="resource"
      xlink:label="sblk_TsuEbisuMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Tsu Ebisu [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TsuEbisuMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Tsu Ebisu</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TwentyFourNewbuildingVesselsMember"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TwentyFourNewbuildingVesselsMember"
      xlink:to="sblk_TwentyFourNewbuildingVesselsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TwentyFourNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Twenty Four Newbuilding Vessels [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwentyFourNewbuildingVesselsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">24 new building vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_TwoCompanyDirectorsMember"
      xlink:href="sblk-20150630.xsd#sblk_TwoCompanyDirectorsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_TwoCompanyDirectorsMember"
      xlink:to="sblk_TwoCompanyDirectorsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_TwoCompanyDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Two Company Directors [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoCompanyDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Directors Mr Softeland and Mr Erhardt</label>
    <label xlink:type="resource"
      xlink:label="sblk_TwoCompanyDirectorsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Two Company Directors</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UnrealizedMember"
      xlink:href="sblk-20150630.xsd#sblk_UnrealizedMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UnrealizedMember" xlink:to="sblk_UnrealizedMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Unrealized [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_UnrealizedMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Unrealized</label>
    <loc xlink:type="locator"
      xlink:label="sblk_UpgradingExpense"
      xlink:href="sblk-20150630.xsd#sblk_UpgradingExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_UpgradingExpense" xlink:to="sblk_UpgradingExpense_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_UpgradingExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The upgrading expenses incurred during the period.</label>
    <label xlink:type="resource"
      xlink:label="sblk_UpgradingExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Upgrading Expense</label>
    <label xlink:type="resource"
      xlink:label="sblk_UpgradingExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Upgrading expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage"
      xlink:href="sblk-20150630.xsd#sblk_VesselAcquisitionCommissionPercentage" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselAcquisitionCommissionPercentage"
      xlink:to="sblk_VesselAcquisitionCommissionPercentage_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Commission paid to an entity related to negotiations made, with a shipyard, regarding a vessel acquisition.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Acquisition Commission Percentage</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionCommissionPercentage_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel acquisition commission percentage</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselAcquisitionContractPrice"
      xlink:href="sblk-20150630.xsd#sblk_VesselAcquisitionContractPrice" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselAcquisitionContractPrice"
      xlink:to="sblk_VesselAcquisitionContractPrice_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionContractPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel shipbuilding or purchase price in aggregate, as stated in the contract.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionContractPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Acquisition Contract Price</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselAcquisitionContractPrice_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Aggregate acquisition price</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselCapacity"
      xlink:href="sblk-20150630.xsd#sblk_VesselCapacity" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselCapacity" xlink:to="sblk_VesselCapacity_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The vessel's capacity in deadweight tonnage.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Capacity</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselCapacity_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">DWT</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselGross"
      xlink:href="sblk-20150630.xsd#sblk_VesselGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselGross" xlink:to="sblk_VesselGross_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselGross_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Gross amount of vessel acquired.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselGross_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Gross</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselGross_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselNet"
      xlink:href="sblk-20150630.xsd#sblk_VesselNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselNet" xlink:to="sblk_VesselNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The carrying amount of the vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Carrying amount of vessel</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Vessel value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_VesselOperatingExpensesTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselOperatingExpensesTableTextBlock"
      xlink:to="sblk_VesselOperatingExpensesTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure for Vessel Operating expenses (crew wages and related costs, insurances, repairs, spares and maintenance, consumable stores, tonnage taxes, miscellaneous).</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Operating Expenses [Table Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselOperatingExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselRedeliveryDate"
      xlink:href="sblk-20150630.xsd#sblk_VesselRedeliveryDate" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselRedeliveryDate"
      xlink:to="sblk_VesselRedeliveryDate_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselRedeliveryDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The date the vessel was redelivered from the charterer.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselRedeliveryDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Redelivery Date</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselRedeliveryDate_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Redelivery date</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselType"
      xlink:href="sblk-20150630.xsd#sblk_VesselType" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselType" xlink:to="sblk_VesselType_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The type of vessel.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Type</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselType_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Type</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselYearBuilt"
      xlink:href="sblk-20150630.xsd#sblk_VesselYearBuilt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselYearBuilt" xlink:to="sblk_VesselYearBuilt_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselYearBuilt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The year that the vessel was built.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselYearBuilt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessel Year Built</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselYearBuilt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Year Built</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsAcquired"
      xlink:href="sblk-20150630.xsd#sblk_VesselsAcquired" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsAcquired" xlink:to="sblk_VesselsAcquired_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of vessels acquired.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Acquired</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAcquired_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels acquired</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet"
      xlink:href="sblk-20150630.xsd#sblk_VesselsAndOtherFixedAssetsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsAndOtherFixedAssetsNet"
      xlink:to="sblk_VesselsAndOtherFixedAssetsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">This element represents vessels and other fixed assets, net of accumulated depreciation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Vessels</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels And Other Fixed Assets Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net (Note 5)</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Vessels and other fixed assets, net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsAndOtherFixedAssetsNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Vessels and other fixed assets, net</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsDelivered"
      xlink:href="sblk-20150630.xsd#sblk_VesselsDelivered" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsDelivered" xlink:to="sblk_VesselsDelivered_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Number of vessels delivered.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsDelivered_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Delivered</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_VesselsHeldForSalePolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsHeldForSalePolicyTextBlock"
      xlink:to="sblk_VesselsHeldForSalePolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Disclosure of accounting policy for vessels held for sale.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Held For Sale Policy [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsHeldForSalePolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels held for sale</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsInOperationsMember"
      xlink:href="sblk-20150630.xsd#sblk_VesselsInOperationsMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsInOperationsMember"
      xlink:to="sblk_VesselsInOperationsMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessels in operation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels In Operations [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsInOperationsMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels in operations</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsNet"
      xlink:href="sblk-20150630.xsd#sblk_VesselsNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsNet" xlink:to="sblk_VesselsNet_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessel cost net of accumulated depreciation.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Net</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsNet_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel's net book value</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon"
      xlink:href="sblk-20150630.xsd#sblk_VesselsSalvageValuePerLightWeightTon" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsSalvageValuePerLightWeightTon"
      xlink:to="sblk_VesselsSalvageValuePerLightWeightTon_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">The estimated vessels' salvage value per lightweight ton.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Salvage Value Per Light Weight Ton</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsSalvageValuePerLightWeightTon_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel salvage value per LWT</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VesselsUnderConstructionMember"
      xlink:href="sblk-20150630.xsd#sblk_VesselsUnderConstructionMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VesselsUnderConstructionMember"
      xlink:to="sblk_VesselsUnderConstructionMember_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VesselsUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Vessels under construction.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels Under Construction [Member]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VesselsUnderConstructionMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels under construction</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageExpensesTableTextBlock"
      xlink:href="sblk-20150630.xsd#sblk_VoyageExpensesTableTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageExpensesTableTextBlock"
      xlink:to="sblk_VoyageExpensesTableTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Tabular disclosure for Voyage expenses (Port charges, bunkers, commissions charged by third parties, commissions charged by related parties).</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage Expenses Table [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpensesTableTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageExpenses"
      xlink:href="sblk-20150630.xsd#sblk_VoyageExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageExpenses" xlink:to="sblk_VoyageExpenses_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Costs relating to the voyages performed by the vessels and may include port, canal, bunker expenses, commissions and other.</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Voyage expenses</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Voyage expenses</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="sblk_VoyageRevenues"
      xlink:href="sblk-20150630.xsd#sblk_VoyageRevenues" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="sblk_VoyageRevenues" xlink:to="sblk_VoyageRevenues_lbl" />
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/documentation">Revenues arising from services provided to charterers according to the terms and conditions included in charter agreements. Voyage revenues may include the amortization of above/below market acquired time charter.</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Voyage Revenues</label>
    <label xlink:type="resource"
      xlink:label="sblk_VoyageRevenues_lbl"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Revenue loss due to engine failure</label>
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      xlink:role="http://www.xbrl.org/2003/role/documentation">This entire disclosure for Voyage expenses (Port charges, bunkers, commissions charged by third parties, commissions charged by related parties) and Vessel Operating expenses (crew wages and related costs, insurances, repairs, spares and maintenance, consumable stores, tonnage taxes, miscellaneous).</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Wolverine [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/documentation">The write off of unamortized time charter termination deferred revenue.</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Write Off Of Unamortized Time Charter Termination Deferred Revenue</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountingPoliciesAbstract"
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      xlink:role="http://www.xbrl.org/2003/role/label">Accounting Policies [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Liabilities</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Accounts payable, current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsPayableTradeCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounts payable</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsReceivableGrossCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Trade accounts receivable, gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsReceivableGrossCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade accounts receivable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsReceivableNetCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsReceivableNetCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsReceivableNetCurrent"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accounts Receivable Net Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade accounts receivable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccountsReceivableNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccountsReceivableNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccountsReceivableNet"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsReceivableNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accounts Receivable Net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccountsReceivableNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accounts receivable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccrualForEnvironmentalLossContingenciesDisclosureAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrual For Environmental Loss Contingencies Disclosure [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccruedLiabilitiesCurrentAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccruedLiabilitiesCurrentAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccruedLiabilitiesCurrentAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccruedLiabilitiesCurrentAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Liabilities (Abstract)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrentAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Liabilities [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccruedLiabilitiesCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccruedLiabilitiesCurrent"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accrued Liabilities Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accrued liabilities</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Accrued Liabilities</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"
      xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated depreciation</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Accumulated depreciation</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated other comprehensive loss</label>
    <loc xlink:type="locator"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"
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    <label xlink:type="resource"
      xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Accumulated Other Comprehensive Income Loss Net Of Tax</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Accumulated other comprehensive loss (Note 14)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife"
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      xlink:role="http://www.xbrl.org/2003/role/label">Amortization weighted-average period</label>
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      xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Shares for commission to Oceanbulk Maritime (Note 3)</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Lease Obligations</label>
    <label xlink:type="resource"
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    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasedAssetsNumberOfUnits_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leased Assets, Number of Units</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasedAssetsNumberOfUnits_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Number of vessels</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Balance Sheet, Assets by Major Class, Net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due Current</label>
    <label xlink:type="resource"
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    <loc xlink:type="locator"
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      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFiveYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due In Five Years</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2020</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Due In Four Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInFourYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2019</label>
    <loc xlink:type="locator"
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      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive" />
    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive_lbl"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2021 and thereafter</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2020</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">2020</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling Year Four</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2019</label>
    <label xlink:type="resource"
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    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Due in Rolling Year Three</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2018</label>
    <label xlink:type="resource"
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    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo_lbl"
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capita Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2018</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capita lLeases Future Minimum Payments Due In Two Years</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract_lbl" />
    <label xlink:type="resource"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases, Future Minimum Payments, Present Value of Net Minimum Payments</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total lease commitments</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2015</label>
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableDueThereafter_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable Due Thereafter</label>
    <label xlink:type="resource"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears"
      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"
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    <label xlink:type="resource"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:to="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_CapitalLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable In Two Years</label>
    <label xlink:type="resource"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Capital Leases Future Minimum Payments Receivable</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
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      xlink:label="us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt [Axis]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan interest rate margin</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Vessels provided as security</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Conversion ratio</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Debt Instrument Covenant Compliance</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Covenant compliance</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan covenants</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Loan reference interest rate</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Loan amount</label>
    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term debt [Line Items]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term debt, including current portion</label>
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    <loc xlink:type="locator"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Fair value</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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    <loc xlink:type="locator"
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    <label xlink:type="resource"
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    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivatives</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Due From Related Parties Current [Abstract]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Assets</label>
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Due from related parties</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_DueToOfficersOrStockholdersCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Outstanding balance - unpaid fees</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Due To Related Parties Current [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DueToRelatedPartiesCurrentAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Due to related parties (Note 3)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to related parties</label>
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      xlink:label="us-gaap_DueToRelatedPartiesCurrent_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Outstanding balance</label>
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    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings / Loss per Share [Abstract]</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Basic [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic earnings / (loss) per share:</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareBasicAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Basic (loss) / earnings per share:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_EarningsPerShareBasicAndDiluted"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Basic And Diluted</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings / (Loss) per share, basic and diluted (Note 11)</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Basic Other Disclosures [Abstract]</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings per Share</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/positiveLabel">Basic earnings per share</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings / (loss) per share, basic (Note 12)</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Basic earnings (loss) per share</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Diluted loss per share</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings Per Share Policy Text Block</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings/(loss) per common share</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Earnings per Share [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_EarningsPerShareTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Earnings / Loss per Share:</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Inventories</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">CSSC lease arrangement</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels under capital lease:</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Leases Capital [Abstract]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Capital leases</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Legal Fees</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Legal matters</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Liabilities</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Current Liabilities</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment installment</label>
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      xlink:label="us-gaap_LoansAndLeasesReceivableOther"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">June 30, 2016</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">December 31, 2015</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_lbl"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long Term Debt Percentage Bearing Fixed Interest Rate</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Interest rate</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermDebtPercentageBearingFixedInterestRate_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Fixed interest rate on notes</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongTermDebtRollingMaturityAbstract"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermDebtRollingMaturityAbstract_lbl"
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      xlink:label="us-gaap_LongTermDebtTextBlock"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long term Debt [Text Block]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long-term Debt:</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Total</label>
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      xlink:label="us-gaap_LongTermDebt_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan amount</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total (including 8% 2019 Notes)</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long Term Investment</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_LongTermInvestments_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long term Investment (Note 3)</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Long term debt - non-current portion</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongtermDebtTypeAxis"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongtermDebtTypeAxis_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt, Type [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongtermDebtTypeDomain"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Long-term Debt, Type [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LongtermDebtWeightedAverageInterestRate_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Weighted average interest rate</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_LossOnContractTermination"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LossOnContractTermination" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_LossOnContractTermination"
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    <label xlink:type="resource"
      xlink:label="us-gaap_LossOnContractTermination_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Loss on time charter agreement termination (Note 7)</label>
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_MachineryAndEquipmentMember"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Machinery And Equipment [Member]</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_MajorTypesOfDebtSecuritiesDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Major Types Of Debt Securities [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ManagementFeePayable"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ManagementFeePayable" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ManagementFeePayable"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeePayable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Management Fee Payable</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeePayable_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Due to managers</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ManagementFeesBaseRevenue"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl"
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      xlink:label="us-gaap_ManagementFeesBaseRevenue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Management fee income</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ManagementMember"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Management and Directors Fees [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Non-executive directors</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ManagementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Management and Directors Fees</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Maritime Equipment [Member]</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Maximum [Member]</label>
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      xlink:label="us-gaap_MaximumMember_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Maximum</label>
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    <loc xlink:type="locator"
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      xlink:role="http://www.xbrl.org/2003/role/label">Net cash (used in)/ provided by Financing Activities</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Net cash provided by/(used in) Financing Activities</label>
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Net income / (loss)</label>
    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Effect of change in accounting estimate, loss on basic earnings per share</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncement or Change in Accounting Principle, Effect of Change on Diluted Earnings Per Share</label>
    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">New Accounting Pronouncements Policy Policy Text Block</label>
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    <label xlink:type="resource"
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      xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Operating Costs And Expenses</label>
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total vessel operating expenses</label>
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      xlink:label="us-gaap_OperatingExpensesAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingExpensesAbstract" />
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel operating expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpensesAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Voyage expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingExpenses"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingExpenses" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingExpenses"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total Operating Expenses</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingExpenses_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Operating Expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingIncomeLossAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingIncomeLossAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingIncomeLossAbstract"
      xlink:to="us-gaap_OperatingIncomeLossAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLossAbstract_lbl"
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      xlink:role="http://www.xbrl.org/2003/role/label">Other Operational Loss [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingIncomeLoss"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingIncomeLoss" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingIncomeLoss"
      xlink:to="us-gaap_OperatingIncomeLoss_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating income/(loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Operating income/(loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Operating income / (loss)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingIncomeLoss_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Operating loss</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2015</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due In Five Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">OperatingLeasesFutureMinimumPaymentsDueInFourYears</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due In Three Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due In Two Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2016</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due Thereafter</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2020 and thereafter</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Due</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable Current</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2016</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Five Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2020</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Four Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2019</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Three Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2018</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable In Two Years</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2017</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter"
      xlink:to="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Operating Leases Future Minimum Payments Receivable Thereafter</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">2021 and thereafter</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">OperatingLeasesFutureMinimumPaymentsReceivable</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total</label>
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      xlink:label="us-gaap_OperatingLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Chartered-in vessel expenses</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Assets Investing Activities</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Advances for Secondhand vessels</label>
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      xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel">Cash payment for acquisition of vessels</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Businesses Gross</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payment to acquire business</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments to Acquire Equipment on Lease</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments to acquire equipment on lease</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Payments To Acquire Intangible Assets</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Payments to acquire intangible assets</label>
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Cash paid for above market acquired time charters</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">PaymentsToAcquireLongtermInvestments</label>
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Long-term investment</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pre-delivery installments</label>
    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Pre-delivery Yard installments</label>
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      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Advances for vessels acquisitions and vessels under construction</label>
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      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Advances for vessels under construction and acquisition of vessels and other assets (Note 5 and Note 6)</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pension and retirement benefit obligations?crew</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Shares - Shares Authorized</label>
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Shares - Shares Issued</label>
    <loc xlink:type="locator"
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    <label xlink:type="resource"
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      xlink:role="http://www.xbrl.org/2003/role/label">Preferred Shares - Shares Outstanding</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PreferredStockValue_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Preferred stock value</label>
    <label xlink:type="resource"
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    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Prepaid expenses and other receivables</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Prepaid expenses and other advances</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PrepaidExpenseCurrentAndNoncurrent" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PrepaidExpenseCurrentAndNoncurrent"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Prepaid Expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrepaidExpenseCurrentAndNoncurrent_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bareboat capital leases - upfront hire &amp; handling fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PrivatePlacementMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PrivatePlacementMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PrivatePlacementMember"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PrivatePlacementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Private Placement [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PrivatePlacementMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Private Placement</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProFormaMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProFormaMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProFormaMember" xlink:to="us-gaap_ProFormaMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ProFormaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Pro Forma [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProFormaMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Pro forma adjustments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromBankDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromBankDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromBankDebt"
      xlink:to="us-gaap_ProceedsFromBankDebt_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from bank loans</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromInsuranceSettlementInvestingActivities" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities"
      xlink:to="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Insurance proceeds</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromInsuranceSettlementInvestingActivities_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Hull and Machinery Insurance proceeds</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromIssuanceInitialPublicOffering" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceInitialPublicOffering"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Initial Public Offering</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceInitialPublicOffering_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from initial public offering</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from issuance of common stock</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of common shares (Note 9)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ProceedsFromIssuanceOfDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Of Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from bank loans</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromIssuanceOfLongTermDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds From Issuance Of Long Term Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromIssuanceOfLongTermDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Proceeds from issuance of notes</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromLegalSettlements"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromLegalSettlements" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromLegalSettlements"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Legal proceeds</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLegalSettlements_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Sale of future claims proceeds</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromLinesOfCredit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_ProceedsFromLinesOfCredit"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Proceeds from Lines of Credit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Amount drawn down</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cash proceeds from vessel sale</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Cash proceeds from vessel sale (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProfessionalAndContractServicesExpense" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProfessionalAndContractServicesExpense"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Management fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Management fees (Note 3 and Note 10 )</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Management fee expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalAndContractServicesExpense_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Management fees</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfessionalFees"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProfessionalFees" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProfessionalFees"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Consultancy fees</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfessionalFees_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Annual fee charged</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProfitLoss"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProfitLoss" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Profit Loss</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProfitLoss_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">INCOME/(LOSS) BEFORE EQUITY IN INCOME OF INVESTEE</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAbstract"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels and Other Fixed Assets, Net [Abstract]</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentAdditions_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Additions</label>
    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Additions to vessel cost and other fixed assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
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      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Axis]</label>
    <loc xlink:type="locator"
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    <labelArc xlink:type="arc"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Depreciation Methods</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDepreciationMethods_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels' depreciation method</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels and Other Fixed Assets Net Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and Other Fixed Assets, Net:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals"
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    <labelArc xlink:type="arc"
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      xlink:to="us-gaap_PropertyPlantAndEquipmentDisposals_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Disposals</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentDisposals_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels delivered (Note 5)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGrossAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGrossAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentGrossAbstract"
      xlink:to="us-gaap_PropertyPlantAndEquipmentGrossAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGrossAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Cost</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGross"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentGross"
      xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Gross</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total cost</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems"
      xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Line Items]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Fair Value of Above/Below Market Acquired Time Charters [Line Items]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Vessel</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentMember"
      xlink:to="us-gaap_PropertyPlantAndEquipmentMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment [Member]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentNetAbstract"
      xlink:to="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Net [Abstract]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">FIXED ASSETS</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentNet"
      xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Total fixed assets</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessels and other fixed assets, net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total Fixed Assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentOther"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentOther" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentOther"
      xlink:to="us-gaap_PropertyPlantAndEquipmentOther_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">PropertyPlantAndEquipmentOther</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentOther_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Other fixed assets</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock"
      xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels, net:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock"
      xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of vessels and other fixed assets, net</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of vessels and other fixed assets, net</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain"
      xlink:to="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Vessels [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife"
      xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Property Plant And Equipment Useful Life</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Vessel's useful life</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ProvisionForDoubtfulAccounts"
      xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Bad debt expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bad debt expense (Note 17a)</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/verboseLabel">Bad debt expense</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Bad debt expense</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RangeAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RangeAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RangeAxis" xlink:to="us-gaap_RangeAxis_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RangeAxis_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Range [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RangeMember"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RangeMember" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RangeMember_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Range [Domain]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_ReceivablesPolicyTextBlock"
      xlink:to="us-gaap_ReceivablesPolicyTextBlock_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Receivables Policy [Text Block]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_ReceivablesPolicyTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Trade accounts receivable</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyDomain"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyDomain" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyDomain"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyDomain_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party (Domain)</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionLineItems"
      xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl" />
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Party Transaction [Line Items]</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Related Party Transaction</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionsAbstract"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" />
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      xlink:from="us-gaap_RelatedPartyTransactionsAbstract"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Transactions with Related Parties [Abstract]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Related Parties Transactions [Axis]</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Transactions with Related Parties Text Block</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Transactions with Related Parties:</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfBankDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RepaymentsOfBankDebt" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">RepaymentsOfBankDebt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Loan repayments</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfBankDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedLabel">Loan prepayments and repayments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfDebt"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RepaymentsOfDebt" />
    <labelArc xlink:type="arc"
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      xlink:from="us-gaap_RepaymentsOfDebt"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Repayments Of Debt</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfDebt_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel">Loan prepayments and repayments</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RepaymentsOfLinesOfCredit"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" />
    <labelArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label"
      xlink:from="us-gaap_RepaymentsOfLinesOfCredit"
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    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/label">Repayments of Lines of Credit</label>
    <label xlink:type="resource"
      xlink:label="us-gaap_RepaymentsOfLinesOfCredit_lbl"
      xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Repayment amount</label>
    <loc xlink:type="locator"
      xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue"
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      xlink:role="http://www.xbrl.org/2003/role/label">Revenues [Abstract]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Revenues:</label>
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      xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US"
      xlink:role="http://www.xbrl.org/2003/role/totalLabel">Total revenues</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Sales commissions and fees</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Salvage Value [Member]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Salvage Value</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Scenario Unspecified [Domain]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Accrued Liabilities [Table Text Block]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Schedule of accrued liabilities</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Business Acquisitions, by Acquisition [Table]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule of Change in Accounting Estimate [Table]</label>
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      xlink:role="http://www.xbrl.org/2003/role/label">Schedule Of Debt Table [Text Block]</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Bank loans and notes</label>
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      xlink:role="http://www.xbrl.org/2003/role/terseLabel">Derivative instruments effect on other comprehensive income loss</label>
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<TYPE>EX-101.PRE
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      use="optional" />
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      use="optional" />
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      use="optional" />
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      use="optional" />
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      preferredLabel="http://www.xbrl.org/2003/role/terseLabel"
      order="65"
      use="optional" />
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      xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child"
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      xlink:to="sblk_StarEpsilonMember"
      preferredLabel="http://www.xbrl.org/2003/role/terseLabel"
      order="66"
      use="optional" />
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      xlink:href="sblk-20150630.xsd#sblk_StarCosmoMember" />
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      order="1"
      use="optional" />
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityLineItems"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditFacilityLineItems" />
    <presentationArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child"
      xlink:from="us-gaap_DebtInstrumentTable"
      xlink:to="us-gaap_LineOfCreditFacilityLineItems"
      order="2"
      use="optional" />
    <loc xlink:type="locator"
      xlink:label="us-gaap_LineOfCreditFacilityCovenantTerms"
      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantTerms" />
    <presentationArc xlink:type="arc"
      xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child"
      xlink:from="us-gaap_LineOfCreditFacilityLineItems"
      xlink:to="us-gaap_LineOfCreditFacilityCovenantTerms"
      order="1"
      use="optional" />
    <loc xlink:type="locator"
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      xlink:href="http://xbrl.fasb.org/us-gaap/2014/elts/us-gaap-2014-01-31.xsd#us-gaap_LineOfCreditFacilityCovenantCompliance" />
    <presentationArc xlink:type="arc"
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      use="optional" />
  </presentationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840559360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationDateOfIncorporation', window );">Date of Incorporation</a></td>
<td class="text">Dec. 13,  2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,104,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DailyManagementFee', window );">Daily Management Fee | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember', window );">Oceanbulk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">48,395,766<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember', window );">Oceanbulk | Vessels in operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Number of vessels acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember', window );">Oceanbulk | Vessels under construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfNewbuildingContracts', window );">Number of contracts for Newbuildings acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_HeronVenturesLtdMember', window );">Heron Ventures Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,115,706<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_HeronVenturesLtdMember', window );">Heron Ventures Ltd | Kamsarmax vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Number of vessels acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_PappasCompaniesMember', window );">Pappas Companies</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,592,728<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_PappasCompaniesMember', window );">Pappas Companies | Vessels in operations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Number of vessels acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_PappasCompaniesMember', window );">Pappas Companies | Vessels under construction</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfNewbuildingContracts', window );">Number of contracts for Newbuildings acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_ProFormaMember', window );">Pro forma adjustments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts', window );">Acquisition related costs | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,363,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,816,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationDateOfIncorporation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date when an entity was incorporated</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationDateOfIncorporation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DailyManagementFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fee rate charged daily, persuant to the management agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DailyManagementFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfNewbuildingContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of newbuildings contracts acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfNewbuildingContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of vessels acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionCostOfAcquiredEntityTransactionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of equity interests issued or issuable to acquire entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)(4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsInOperationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsInOperationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsUnderConstructionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_VesselsUnderConstructionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=sblk_HeronVenturesLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=sblk_HeronVenturesLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KamsarmaxVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KamsarmaxVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=sblk_PappasCompaniesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=sblk_PappasCompaniesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementScenarioAxis=us-gaap_ProFormaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_ProFormaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<head>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712008490544">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair value of Above-Market Acquired Time Charters - Future Amortization (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNetAmortizationExpenseRollingMaturityAbstract', window );"><strong>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths', window );">June 30, 2016</a></td>
<td class="nump">$ 2,723<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_FairValueOfAboveMarketAcquiredTimeCharter', window );">Total</a></td>
<td class="nump">$ 2,723<span></span>
</td>
<td class="nump">$ 11,908<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_FairValueOfAboveMarketAcquiredTimeCharter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The asset arising from the market value of the time charter contract assumed from a vessel acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_FairValueOfAboveMarketAcquiredTimeCharter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711850841712">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Vessels and Other Fixed Assets, Net (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGrossAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAndOtherFixedAssetsNet', window );">Vessels and other fixed assets, net</a></td>
<td class="nump">$ 1,772,664<span></span>
</td>
<td class="nump">$ 1,441,851<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_PropertyPlantAndEquipmentMember', window );">Vessels and other fixed assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGrossAbstract', window );"><strong>Cost</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselGross', window );">Vessels</a></td>
<td class="nump">1,857,658<span></span>
</td>
<td class="nump">1,541,538<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AssetsFairValueAdjustmentAccumulated', window );">Fair value adjustment</a></td>
<td class="nump">151,588<span></span>
</td>
<td class="nump">100,065<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentOther', window );">Other fixed assets</a></td>
<td class="nump">1,701<span></span>
</td>
<td class="nump">1,683<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AccumulatedAssetImpairmentCharges', window );">Impairment charge</a></td>
<td class="num">(8,282)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Total cost</a></td>
<td class="nump">2,002,665<span></span>
</td>
<td class="nump">1,643,286<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Accumulated depreciation</a></td>
<td class="num">$ (230,001)<span></span>
</td>
<td class="num">$ (201,435)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedAssetImpairmentCharges</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of addition (reduction) to the amount at which an asset could be incurred (settled) at the time of acquisition between willing parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AssetsFairValueAdjustmentAccumulated</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross amount of vessel acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselGross</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents vessels and other fixed assets, net of accumulated depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAndOtherFixedAssetsNet</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.14)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 14<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGross</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentGrossAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of other physical assets used in the normal conduct of business to produce goods and services and not intended for resale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentOther</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<head>
<title></title>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867177312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Unaudited Condensed Consolidated Statement of Operations (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet', window );">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss)</a></td>
<td class="num">$ (227)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInterestRateCashFlowHedgeIneffectiveness', window );">Ineffective portion of cash flow hedges</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax', window );">Total Gains/(Losses) on derivative instruments, net</a></td>
<td class="num">(688)<span></span>
</td>
<td class="num">(819)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndDebtExpenseAbstract', window );"><strong>Interest and finance costs</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet', window );">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)</a></td>
<td class="num">(1,491)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings', window );">Total Gains/(Losses) recognized</a></td>
<td class="num">(1,491)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=sblk_CreditAgricoleSwapsMember', window );">Credit Agricole and HSH Nordbank Swaps | Before hedging designation (August 31, 2014)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments', window );">Unrealized gains/(losses) from the Interest rate swaps agreements</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(819)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=sblk_GoldmanSachsSwapsMember', window );">Goldman Sachs Swaps | After de-designation of accounting hedging relationship (April 1, 2015)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments', window );">Unrealized gains/(losses) from the Interest rate swaps agreements</a></td>
<td class="nump">883<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_InterestRateDerivativeGainLossRealizedInEarningsNet', window );">Realized gains/(losses) from the Interest rate swaps agreements</a></td>
<td class="num">$ (1,344)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate net effect in earnings due to derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_GainLossOnDerivativeInstrumentsAggregateNetEffectInEarnings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_InterestRateDerivativeGainLossRealizedInEarningsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) included in earnings for the period from the settlement of interest rate derivatives not designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_InterestRateDerivativeGainLossRealizedInEarningsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5618551-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDerivativeInstrumentsNetPretax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net gain (loss) reclassified into earnings in the period when cash flow hedge is discontinued because it is probable that the original forecasted transactions will not occur by the end of the original period or an additional two month time period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80748-113994<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInterestRateCashFlowHedgeIneffectiveness">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net gain (loss) during the reporting period due to ineffectiveness in interest rate cash flow hedges. Recognized in earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (d)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5624171-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnInterestRateCashFlowHedgeIneffectiveness</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) included in earnings for the period from the increase (decrease) in fair value of interest rate derivatives not designated as hedging instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5618551-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5624171-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnInterestRateDerivativeInstrumentsNotDesignatedAsHedgingInstruments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDebtExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDebtExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net gains or losses on interest rate cash flow hedges reclassified during the period to earnings from accumulated other comprehensive income upon the hedged transaction affecting earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5624171-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=sblk_CreditAgricoleSwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=sblk_CreditAgricoleSwapsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=sblk_BeforeHedgingDesginationMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=sblk_BeforeHedgingDesginationMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=sblk_GoldmanSachsSwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=sblk_GoldmanSachsSwapsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=sblk_AfterDe-designationOfAccountingHedgingRelationshipMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=sblk_AfterDe-designationOfAccountingHedgingRelationshipMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<head>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867036928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value of Above-Market Acquired Time Charters - Amount per Vessel (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNetAbstract', window );"><strong>Fair value of above market acquired time charter</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter', window );">Amortization</a></td>
<td class="nump">$ 7,071<span></span>
</td>
<td class="nump">$ 3,149<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Accumulated amortization of above market time charters</a></td>
<td class="nump">28,271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,200<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnContractTermination', window );">Loss/(gain) on time charter agreement termination</a></td>
<td class="nump">$ 2,114<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amortization of the asset arising from the market value of the time charter assumed from a vessel acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnContractTermination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) related to the termination of a contract between the parties. The termination may be due to many causes including early termination of a lease by a lessee, a breach of contract by one party, or a failure to perform.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnContractTermination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867176080">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties - Additional Information (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Transactions with Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel', window );">Monthly lump sum management fee per vessel</a></td>
<td class="nump">$ 17,500<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Monthly lump fee per vessel, as part of an agreement for commercial, technical, crewing or brokering services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ServicesAgreementMonthlyLumpFeeRemunerationPerVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840457472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationFiscalYearMaturityScheduleTableTextBlock', window );">Schedule of future minimum contractual obligations</a></td>
<td class="text"><div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:9px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="7" style=" border:solid #000000 0.0px;width:419px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Twelve month periods ending June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>plus inflows/ minus outflows</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2016</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2017</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2018</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2019</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2020</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2021 and <br/>thereafter</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Future, minimum, non-cancellable charter revenue (1) </i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$48,008</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$47,258</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$750</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Bareboat capital leases - upfront hire &amp; handling <br/>fees (2) </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(13,613</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(12,269)</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(1,344</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)-</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Bareboat commitments charter hire (3) </font></div></td>
    <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:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(364,854</font></div></td>
    <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:51px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(4,803)</font></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(26,123</font></div></td>
    <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:56px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(27,219)</font></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(27,151</font></div></td>
    <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:56px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(27,488)</font></td>
    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(252,070</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total </b></font></div></td>
    <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:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($330,459)</b></font></div></td>
    <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:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>$30,186</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($26,717)</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($27,219)</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($27,151)</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($27,488)</b></font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:4px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711760434752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="3">7 Months Ended</th>
<th class="th" colspan="2">8 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 15, 2015</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
<th class="th"><div>Aug. 07, 2015</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 22, 2015</div></th>
<th class="th"><div>Sep. 02, 2015</div></th>
<th class="th"><div>Aug. 26, 2015</div></th>
<th class="th"><div>Aug. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice', window );">Aggregate reduction of the purchase price of certain of the newbuilding vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,828<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 317,538<span></span>
</td>
<td class="nump">$ 74,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LeaseAgreementsMember', window );">CSSC lease arrangement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost', window );">Lease agreements, maximum amount to finance construction cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40,000<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug. 26,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarClaudiaMember', window );">Star Claudia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery Date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Sep.  02,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GoliathAndMaharajMember', window );">Goliath (ex -HN 167) and Maharaj (ex -HN 185)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="nump">$ 75,364<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAquariusMember', window );">Star Aquarius ( ex-HN 5040)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,359<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPiscesMember', window );">Star Pisces (ex-HN 5043)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,351<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember', window );">DNB-SEB-CEXIM $227,500 Facility | Goliath (ex -HN 167) and Maharaj (ex -HN 185)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="nump">$ 60,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember', window );">NIBC $32,000 Facility | Star Aquarius ( ex-HN 5040)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,237<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember', window );">NIBC $32,000 Facility | Star Pisces (ex-HN 5043)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15,237<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate reduction of the purchase price of vessels under construction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AggregateReductionOfVesselsUnderConstructionPurchasePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum amount, agreed under a lease arrangement, to finance construction cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_LeaseAgreementsMaximumAmountToFinanceConstructionCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(f))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph f<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date of acquisition or disposal, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LeaseAgreementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_LeaseAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNatalieMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNatalieMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarClaudiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarClaudiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GoliathAndMaharajMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GoliathAndMaharajMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAquariusMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAquariusMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPiscesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPiscesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<head>
<title></title>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712007270816">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Long-term Debt - Principal Payments (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtRollingMaturityAbstract', window );"><strong>Long-term Debt - Principal payments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths', window );">June 30, 2016</a></td>
<td class="nump">$ 93,128<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo', window );">June 30, 2017</a></td>
<td class="nump">140,554<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree', window );">June 30, 2018</a></td>
<td class="nump">89,780<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour', window );">June 30, 2019</a></td>
<td class="nump">203,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive', window );">June 30, 2020</a></td>
<td class="nump">215,902<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive', window );">June 30, 2021 and thereafter</a></td>
<td class="nump">115,293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Total (including 8% 2019 Notes)</a></td>
<td class="nump">858,068<span></span>
</td>
<td class="nump">$ 861,793<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumtermNotesNoncurrent', window );">Excluding 8.00% 2019 Notes</a></td>
<td class="nump">50,000<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBank', window );">Total Long term debt</a></td>
<td class="nump">808,068<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Long term debt - current portion</a></td>
<td class="nump">93,128<span></span>
</td>
<td class="nump">88,317<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansFromBank', window );">Long term debt - non-current portion</a></td>
<td class="nump">$ 714,940<span></span>
</td>
<td class="nump">$ 667,315<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Including the current and noncurrent portions, carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the normal operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.16(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBankCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of current portion of long-term loans payable to bank due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBankCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20, 22<br><br><br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (SX 210.12-04.(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (SX 210.12-04.(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (SX 210.12-04.(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (SX 210.12-04.(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (SX 210.12-04.(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (SX 210.12-04.(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e24072-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInRollingYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtRollingMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtRollingMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermLoansFromBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the operating cycle if longer, excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermLoansFromBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MediumtermNotesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value at the balance sheet date of the noncurrent portion of a financial instrument used to receive debt funding on a regular basis with original maturities ranging from 5-10 years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MediumtermNotesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711851003184">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fair value measurements - Fair value on a recurring basis - Significant Other Observable Inputs (Table) (Details) - Significant Other Observable Inputs (Level 2) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">designated as cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Interest rate swaps - asset position</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Interest rate swaps - liability position</a></td>
<td class="nump">1,081<span></span>
</td>
<td class="nump">7,732<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">not designated as cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Interest rate swaps - asset position</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Interest rate swaps - liability position</a></td>
<td class="nump">9,819<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Interest Rate Swaps | designated as cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Interest rate swaps - asset position</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Interest rate swaps - liability position</a></td>
<td class="nump">1,081<span></span>
</td>
<td class="nump">7,732<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Interest Rate Swaps | not designated as cash flow hedges</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetsNoncurrent', window );">Interest rate swaps - asset position</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilities', window );">Interest rate swaps - liability position</a></td>
<td class="nump">$ 9,819<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13433-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34720828&amp;loc=SL20225862-175312<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13495-108611<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36459792&amp;loc=SL20226008-175313<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13495-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34720828&amp;loc=SL20225862-175312<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13433-108611<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_DesignatedAsHedgingInstrumentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_HedgingDesignationAxis=us-gaap_NondesignatedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeByNatureAxis=sblk_InterestRateSwapsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeByNatureAxis=sblk_InterestRateSwapsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711847597280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Transactions with Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock', window );">Schedule of related party transactions</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance Sheet</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,<br/> 2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30,<br/>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Assets</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">241</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">667</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Product Shipping &amp; Trading S.A.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">4</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">4</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total Assets</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">245</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">671</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Liabilities</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interchart Shipping Inc. </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Combine Marine Ltd.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">9</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Management and Directors Fees</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">462</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">314</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Managed Vessels of Oceanbulk Shipping LLC</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">9</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">7</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Oceanbulk Sellers (Note 13) </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,689</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">50</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Maryville Maritime Inc.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">514</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total Liabilities</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,166</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">900</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Excel Vessel Bridge Facility outstanding balance</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:24px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,<br/>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30, <br/>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Excel Vessel Bridge Facility -&#160;current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">8,168</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Excel Vessel Bridge Facility -&#160;non- current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">47,993</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total Excel Vessel Bridge Facility </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>56,161</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>&#160;Capitalized Expenses</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, <br/>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30, <br/>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Advances for vessels under construction and acquisition of vessels </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Oceanbulk Maritime S.A.- commission fee for newbuilding vessels</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,038</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,557</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Statements of Operations</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:34px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:229px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Voyage expenses-Interchart </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(385</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(1,650</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Executive directors consultancy fees </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(286</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(317</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Non-executive directors compensation </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(71</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(79</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Office rent - Combine Marine Ltd. </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(21</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)&#160;</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(17</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Management fee expense - Maryville Maritime Inc.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:20px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(315</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interest on Excel Vessel Bridge Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(220</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Management fee income - Oceanbulk Maritime S.A. </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">93</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Management fee income - Managed Vessels of Oceanbulk Shipping <br/>LLC </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,299</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Management fee income Product Shipping &amp; Trading S.A. </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">62</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
</table>
<div></div><span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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</body>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711760501232">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels and Other Fixed Assets, Net (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="3">1 Months Ended</th>
<th class="th" colspan="4">2 Months Ended</th>
<th class="th" colspan="4">3 Months Ended</th>
<th class="th" colspan="3">5 Months Ended</th>
<th class="th" colspan="5">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jan. 08, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 19, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th"><div>Feb. 09, 2015</div></th>
<th class="th"><div>Feb. 04, 2015</div></th>
<th class="th"><div>Jan. 21, 2015</div></th>
<th class="th"><div>Mar. 12, 2015</div></th>
<th class="th">
<div>Feb. 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Mar. 07, 2014</div></th>
<th class="th"><div>Feb. 13, 2014</div></th>
<th class="th"><div>Apr. 07, 2015</div></th>
<th class="th">
<div>Apr. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Mar. 25, 2015</div></th>
<th class="th"><div>Jun. 04, 2015</div></th>
<th class="th">
<div>May. 28, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May. 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th"><div>Jun. 26, 2015</div></th>
<th class="th"><div>Jun. 23, 2015</div></th>
<th class="th"><div>Jun. 17, 2015</div></th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jan. 24, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 317,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 74,267<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on sale of vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,389<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,829<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member', window );">Star Vega</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Feb. 13,  2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98,681<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member', window );">Star Sirius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mar.  07,  2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">98,681<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSiriusStarVega2Member', window );">Star Sirius and Star Vega</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds', window );">Contracted sale / purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_GrossDailyCharterRate', window );">Gross daily charter rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 15<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_BrokerageCommissionPercentage', window );">Brokerage commission</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IndomitableMember', window );">Indomitable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">Jan.  08,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">182,476<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerWolverineMember', window );">Honey Badger and Wolverine</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Feb. 27,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerMember', window );">Honey Badger</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,297<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 19,422<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_WolverineMember', window );">Wolverine</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">61,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">19,422<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeMember', window );">Idee Fixe</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mar. 25,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,458<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember', window );">Roberta</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mar. 31,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember', window );">Laura</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr.  07,  2015<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,399<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KaleyMember', window );">Kaley</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 26,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</td>
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</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">63,283<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GargantuaMember', window );">Gargantua</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr.  02,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">209,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 37,682<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DeepBlueMember', window );">Deep Blue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">May 27,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">182,608<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 34,982<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember', window );">Star Nina, Star Nicole, Star Claudia, Star Monisha, Rodon and Star Jennifer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,257,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 39,475<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaMember', window );">Star Julia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Feb.  04,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarTatiannaMember', window );">Star Tatianna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Feb.  09,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RodonMember', window );">Rodon</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Mar. 12,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMonikaMember', window );">Star Monika</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr.  07,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf', window );">Assets held for sale - impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKimMember', window );">Star Kim</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jan. 21,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigMember', window );">Star Big</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun.  04,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChristiannaMember', window );">Star Christianna</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 23,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMegaMember', window );">Star Mega</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals', window );">Delivery date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Jun. 17,  2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MaidenVoyageIMember', window );">Maiden Voyage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">58,722<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">58,722<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,282<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewYangzijiangVesselsMember', window );">New Yangzijiang Vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">64,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasedAssetsNumberOfUnits', window );">Number of vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_PurchasePriceObligation', window );">Vessel purchase price obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease', window );">Interest and finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">872<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet', window );">Vessels and other fixed assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">123,210<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation', window );">Accumulated amortization</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">842<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember', window );">BNP $32,480 Facility | Indomitable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="nump">$ 32,480<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember', window );">Sinosure Facility | Honey Badger and Wolverine</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 38,162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember', window );">DNB-SEB-CEXIM $227,500 Facility | Gargantua</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 32,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember', window );">DVB $31,000 Deep Blue Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">28,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember', window );">DVB $31,000 Deep Blue Facility | Deep Blue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember', window );">Excel Vessel CiT Facility | Star Julia, Star Tatianna, Star Monika and Star Kim</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AmountUsedForPrepaymentOfDebt', window );">Prepayments of lines of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 18,181<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByMeasurementBasisAxis=sblk_FairValueAdjustmentMember', window );">Impairment charge, Fair value adjustment portion | Maiden Voyage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,411<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis=sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember', window );">Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Vessels Acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,917,312<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,257,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 288,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_FinancedByNewYangzijiangOwnerMember', window );">Financed by New Yangzijiang owner | New Yangzijiang Vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireEquipmentOnLease', window );">Payments to acquire equipment on lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AmountUsedForPrepaymentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow for prepayment of an obligation from a lender.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AmountUsedForPrepaymentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_BrokerageCommissionPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The commission charged by brokers, as a percentage of the agreed price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_BrokerageCommissionPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_GrossDailyCharterRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gross daily charter rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_GrossDailyCharterRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_PurchasePriceObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchase price payable at the end of the bareboat charter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_PurchasePriceObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of vessels acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasedAssetsNumberOfUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units (items of property) under capital lease arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasedAssetsNumberOfUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total gross amount less the charge for the use of the long-lived depreciable assets subject to a lease meeting the criteria for capitalization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesBalanceSheetAssetsByMajorClassNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total charge for the use of long-lived depreciable assets subject to a lease meeting the criteria for capitalization.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45014-112735<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 40<br><br><br><br> -Subparagraph (Note 2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long-lived assets held for abandonment, exchange or sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2611-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount, during the lease term, of each minimum [capital] lease payment allocated to interest expense so as to produce a constant periodic rate of interest on the remaining balance of the capital lease obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6916424&amp;loc=d3e43161-112731<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseLesseeAssetsUnderCapitalLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireEquipmentOnLease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for payments to acquire rented equipment which is recorded as an asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireEquipmentOnLease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(f))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph f<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of all consideration given or received by the Entity in the significant acquisition or disposal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date of acquisition or disposal, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsDateOfTransactionForAcquisitionsOrDisposals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSiriusStarVega2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSiriusStarVega2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IndomitableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IndomitableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerWolverineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerWolverineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_WolverineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_WolverineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KaleyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KaleyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GargantuaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GargantuaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DeepBlueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DeepBlueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaAndStarNicoleAndStarClaudiaAndStarMorishaAndRodonAndStarJenniferMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarTatiannaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarTatiannaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RodonMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RodonMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMonikaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMonikaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKimMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKimMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBigMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChristiannaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChristiannaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMegaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMegaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MaidenVoyageIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MaidenVoyageIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewYangzijiangVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewYangzijiangVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJuliaAndStarTatiannaAndStarMonikaAndStarKimMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=sblk_FairValueAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=sblk_FairValueAdjustmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis=sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_FinancedByNewYangzijiangOwnerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransactionTypeAxis=sblk_FinancedByNewYangzijiangOwnerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711851813648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Transactions with Related Parties - Balance Sheet (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrentAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Due from related parties</a></td>
<td class="nump">$ 671<span></span>
</td>
<td class="nump">$ 245<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">900<span></span>
</td>
<td class="nump">2,166<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember', window );">Oceanbulk Maritime S.A. and its affiliates</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrentAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Due from related parties</a></td>
<td class="nump">667<span></span>
</td>
<td class="nump">241<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ProductShippingTradingMember', window );">Product Shipping &amp; Trading S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrentAbstract', window );"><strong>Assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Due from related parties</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember', window );">Interchart Shipping Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">6<span></span>
</td>
<td class="nump">6<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember', window );">Combine Marine Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">9<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember', window );">Management and Directors Fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">314<span></span>
</td>
<td class="nump">462<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember', window );">Managed Vessels of Oceanbulk Shipping LLC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">7<span></span>
</td>
<td class="nump">9<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkSellersMember', window );">Oceanbulk Sellers (Note 13)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">50<span></span>
</td>
<td class="nump">1,689<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember', window );">Maryville Maritime Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrentAbstract', window );"><strong>Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">$ 514<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3(a)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 2<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ProductShippingTradingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ProductShippingTradingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ManagementMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkSellersMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkSellersMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
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<SEQUENCE>24
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711850234768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Newbuildings (Table) (Details) - Jun. 30, 2015<br></strong></div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HNNE167Member', window );">HN NE 167 (tbn Goliath)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">209,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">July 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HNNE184Member', window );">HN NE 184 (tbn Maharaj)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">209,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">July 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNE198Member', window );">HN NE 198 (tbn Star Poseidon)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">209,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">March 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1359Member', window );">HN 1359 (tbn Star Marisa)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">November 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1372Member', window );">HN 1372 (tbn Star Libra)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">November 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1360Member', window );">HN 1360 (tbn Star Ariadne)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">February 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1342Member', window );">HN 1342 (tbn Star Gemini)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">March 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1371Member', window );">HN 1371 (tbn Star Virgo)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">February 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1361Member', window );">HN 1361 (tbn Star Magnanimus)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">May 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1343Member', window );">HN 1343 (tbn Star Leo)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">March 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1363Member', window );">HN 1363 (tbn Star Chaucer)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">September 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN5055Member', window );">HN 5055 (tbn Behemoth)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">182,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">January 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN5056Member', window );">HN 5056 (tbn Megalodon)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">182,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">January 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1312Member', window );">HN 1312 (tbn Bruno Marks)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">September 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1313Member', window );">HN 1313 (tbn Jenmark)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">October 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1338Member', window );">HN 1338 (tbn Star Aries)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">November 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1339Member', window );">HN 1339 (tbn Star Taurus)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">March 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1080Member', window );">HN 1080 (tbn Kennadi)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">64,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">January 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1081Member', window );">HN 1081 (tbn Mackenzie)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">64,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">February 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1082Member', window );">HN 1082 (tbn Night Owl)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">64,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">March 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1083Member', window );">HN 1083 (tbn Early Bird)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">64,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">April 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNE196Member', window );">HN NE 196 (tbn Star Antares)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">October 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNE197Member', window );">HN NE 197 (Star Lutas)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">January 2016<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull5040Member', window );">HN 5040 (tbn Star Aquarius)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">60,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">July 2015<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull5043Member', window );">HN 5043 (tbn Star Pisces)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">60,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Expected Delivery Date</a></td>
<td class="text">August 2015<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DeliveryDateVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The date of the vessel delivery to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DeliveryDateVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HNNE167Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HNNE167Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HNNE184Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HNNE184Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNE198Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNE198Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1359Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1359Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1372Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1372Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1360Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1360Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1342Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1342Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1371Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HullNo1371Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1361Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1361Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1343Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1343Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1363Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1363Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN5055Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN5055Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN5056Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN5056Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1312Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1312Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1313Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HN1313Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1338Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1338Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1339Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_Hull1339Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711849639696">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels, Newbuildings (Details) - Jun. 30, 2015<br> $ in Thousands</strong></div></th>
<th class="th"><div>USD ($)</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsMember', window );">Newbuilding Vessels</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths', window );">Newbuildings periodic installments, next twelve months</a></td>
<td class="nump">$ 500,681<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo', window );">Newbuildings periodic installments, 2017</a></td>
<td class="nump">77,187<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_TotalContractualPurchaseObligation', window );">Total aggregate remaining contracted price plus agreed additional amounts</a></td>
<td class="nump">$ 577,868<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfNewbuildingContracts', window );">Number of contracts for Newbuildings acquired</a></td>
<td class="nump">25<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember', window );">Merger and Pappas Transaction</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfNewbuildingContracts', window );">Number of contracts for Newbuildings acquired</a></td>
<td class="nump">14<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfNewbuildingContracts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of newbuildings contracts acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfNewbuildingContracts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_TotalContractualPurchaseObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation to be paid within and after one year from the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_TotalContractualPurchaseObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecordedUnconditionalPurchaseObligationDueInNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecordedUnconditionalPurchaseObligationDueInRollingYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_NewbuildingVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>

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<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711860263664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans - Company's Equity Incentive Plans (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Apr. 13, 2015</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Equity Incentive Plans [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share based compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,407<span></span>
</td>
<td class="nump">$ 1,903<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions', window );">Total unrecognised compensation cost relating to restricted share awards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,884<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Total unrecognised compensation cost relating to non-vested share option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 704<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Weighted average remaining term for non-vested restricted share awards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">9 months 13 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted average remaining term for non-vested share option awards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">4 years 9 months 13 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2015Member', window );">Equity Incentive Plan 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Equity Incentive Plans [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue', window );">Grant date fair value</a></td>
<td class="nump">$ 3.55<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance', window );">Shares reserved for issuance</a></td>
<td class="nump">1,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Equity Incentive Plans [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice', window );">Option exercise price</a></td>
<td class="nump">$ 5.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Fair value assumptions - Expected term</a></td>
<td class="text">5 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Fair value assumptions - Expected volatility rate</a></td>
<td class="nump">59.274%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Fair value assumptions - Risk free interest rate</a></td>
<td class="nump">1.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockCapitalSharesReservedForFutureIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate number of common shares reserved for future issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockCapitalSharesReservedForFutureIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested options awarded to employees as compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Agreed-upon price for the exchange of the underlying asset relating to the share-based payment award.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExercisePrice</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(iv)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 14.D.2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br> -Section D<br><br><br><br> -Subsection 2<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2015Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2015Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852845072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Terms and Covenants (Details)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityLineItems', window );"><strong>Line of Credit Facility [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCovenantTerms', window );">Line of Credit Facility, Covenant Terms</a></td>
<td class="text">Under its other loan agreements, the Company is not allowed to pay dividends until December 31, 2016. In any event, the Company may not pay dividends or distributions if an event of default has occured and is continuing or would result from such dividend or distribution. Furthermore, the Company's credit facilities contain financial covenants requiring the Company to maintain various financial ratios, including:
- a minimum percentage of aggregate vessel value to loans secured;
- a maximum ratio of total liabilities to market value adjusted total assets;
- a minimum EBITDA to interest coverage ratio;
- a minimum liquidity; and
- a minimum equity ratio.
As of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $35,200, respectively, which is included within "Cash and cash equivalents" in the accompanying balance sheets.  In addition, as of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,789, respectively, which is included within "Restricted cash" in the accompanying balance sheets.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCovenantCompliance', window );">Line of Credit Facility, Covenant Compliance</a></td>
<td class="text">As of December 31, 2014 and June 30, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements.<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember', window );">DNB-SEB-CEXIM $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityLineItems', window );"><strong>Line of Credit Facility [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityCovenantTerms', window );">Line of Credit Facility, Covenant Terms</a></td>
<td class="text">Under the DNB-SEB-CEXIM $227,500 Facility, the Company is not allowed to pay dividends until December 2017, if the Company's liquid funds are not greater than $200,000 or $2,000 per fleet vessel.<span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Identification of whether the entity has been in compliance with any credit facility debt covenants during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the conditions for borrowing under the credit facility including the nature of any restrictions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711851715728">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Inventories (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LubricantsInventoryCurrent', window );">Lubricants</a></td>
<td class="nump">$ 8,106<span></span>
</td>
<td class="nump">$ 6,853<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_BunkerInventoryCurrent', window );">Bunkers</a></td>
<td class="nump">8,585<span></span>
</td>
<td class="nump">7,515<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Total</a></td>
<td class="nump">$ 16,691<span></span>
</td>
<td class="nump">$ 14,368<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of bunker's inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_BunkerInventoryCurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of lubricants' inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_LubricantsInventoryCurrent</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryDisclosureAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
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<td>instant</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867861408">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of Presentation and General Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessDescriptionAndBasisOfPresentationTextBlock', window );">Basis of Presentation and General Information:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Basis of Presentation and General Information:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Star Bulk Carriers Corp. (&#147;Star Bulk&#148;) is a shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk was incorporated in the Marshall Islands on December&#160;13, 2006 and maintains executive offices in Athens, Greece.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Star Bulk's common shares started trading on the NASDAQ Global Select Market on December&#160;3, 2007, under the ticker symbol &#147;SBLK.&#148; The accompanying unaudited interim condensed consolidated financial statements include the accounts of Star Bulk and its subsidiaries, which are hereinafter collectively referred to as the &#147;Company,&#148; and have been prepared in accordance with accounting principles generally accepted in the United States of America (&#147;U.S. GAAP&#148;) and applicable rules and regulations of the U.S. Securities and Exchange Commission (the &#147;SEC&#148;) for interim financial information. &#160;Accordingly, they do not include all the information and notes required by U.S. GAAP for annual financial statements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, considered necessary for a fair presentation of the Company's financial position, results of operations and cash flows for the periods presented. &#160;Operating results for the six months ended June 30, 2015, are not necessarily indicative of the results that might be expected for the fiscal year ending December&#160;31, 2015.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The unaudited interim condensed consolidated financial statements presented in this report should be read in conjunction with the Company's Annual Report on Form 20-F for the year ended December 31, 2014, filed with the SEC on April 8, 2015. &#160;The balance sheet as of December 31, 2014 has been derived from the audited financial statements as of that date, but, pursuant to the requirements for interim financial information, does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>The 2014 Transactions</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On July&#160;11, 2014, the Company, as part of its growth strategy, completed a transaction that resulted in the acquisition of Oceanbulk Shipping LLC (&#147;Oceanbulk Shipping&#148;) and Oceanbulk Carriers LLC (&#147;Oceanbulk Carriers&#148;, and, together with Oceanbulk Shipping, &#147;Oceanbulk&#148;) from Oaktree Dry Bulk Holdings LLC (including affiliated funds, &#147;Oaktree&#148;) and Millennia Holdings LLC (&#147;Millennia Holdings&#148;, and together with Oaktree, the &#147;Sellers&#148;) through the merger of the Company's wholly-owned subsidiaries, Star Synergy LLC and Star Omas LLC, into Oceanbulk's holding companies (the &#147;Merger&#148;). &#160;At the time of the Merger, Oceanbulk owned and operated a fleet of 12 dry bulk carrier vessels and owned contracts for the construction of 25 newbuilding fuel-efficient Eco-type dry bulk vessels at shipyards in Japan and China. &#160;Millennia Holdings is an entity that is affiliated with the family of Mr.&#160;Petros Pappas, who became the Company's Chief Executive Officer in connection with the Merger.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The agreement governing the Merger also provided for the acquisition (the &#147;Heron Transaction&#148;) by the Company of two Kamsarmax vessels (the &#147;Heron Vessels&#148;), from Heron Ventures Ltd. &#160;(&#147;Heron&#148;), a limited liability company incorporated in Malta, which was a joint venture between Oceanbulk Shipping and a third party. The Heron Transaction has been reflected in the Company's consolidated financial statements as a purchase of assets. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, concurrently with the Merger, the Company completed a transaction (the &#147;Pappas Transaction&#148;), in which it acquired all of the issued and outstanding shares of Dioriga Shipping Co. and Positive Shipping Company (collectively, the &#147;Pappas Companies&#148;), which were entities owned and controlled by affiliates of the family of Mr.&#160;Pappas. &#160;At the time of the Merger, the Pappas Companies owned and operated a dry bulk carrier vessel (<i>Tsu Ebisu</i>) and had a contract for the construction of a newbuilding dry bulk carrier vessel, HN 5016 (<i>Indomitable</i>), which was delivered in January&#160;2015. The Merger, the Heron Transaction and the Pappas Transaction are referred to, together, as the &#147;July&#160;2014 Transactions&#148;.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A total of 54,104,200 of the Company's common shares were issued to the various selling parties in the July 2014 Transactions, consisting of 48,395,766 common shares consideration for the Merger with Oceanbulk, 3,592,728 common shares consideration for the acquisition of Pappas Companies and 2,115,706 common shares partial consideration for the acquisition of the Heron Vessels.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The results of operations of Oceanbulk and the Pappas Companies have been reflected in the Company's consolidated statement of operations since the acquisition date (July 11, 2014). &#160;As a result, no financial information of Oceanbulk and the Pappas Companies are included in the accompanying statement of operations for the period ended June 30, 2014. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following unaudited pro forma consolidated financial information reflects the results of operations for the six month period ended June 30, 2014, as if the Merger and the Pappas Transaction had been consummated on January&#160;1, 2013 and after giving effect to purchase accounting adjustments, including the nonrecurring pro forma reversal of: &#160;(i)&#160; all acquisition-related transaction costs of $2,363 incurred in the six month period ended June 30, 2014 and (ii)&#160;the interest expense of $1,816 incurred in the six month period ended June 30, 2014, with respect to the convertible loan owed by Oceanbulk to its members, which was converted into equity because of the Merger, as if the conversion had taken place on January&#160;1, 2013. &#160;These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what operating results would have been had the Merger and the Pappas Transaction actually taken place on January&#160;1, 2013. In addition, these results are not intended to be a projection of future results and do not reflect any synergies that might be achieved from the combined operations:</font></div>
<div style="margin-left: 14.4px;text-indent:-13.3px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, 2014</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma revenues&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;73,448</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma operating loss&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(4,637</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma net loss&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(12,270</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma loss per share, basic and diluted&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(0.15)</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, on August&#160;19, 2014, the Company entered into definitive agreements with Excel Maritime Carriers Ltd. &#160;(&#147;Excel&#148;) pursuant to which (the &#147;Excel Transactions&#148;) the Company acquired 34 operating dry bulk vessels, consisting of six Capesize vessels, 14 sistership Kamsarmax vessels, 12 Panamax vessels and two Handymax vessels (the &#147;Excel Vessels&#148;) for an aggregate consideration of 29,917,312 of its common shares (the &#147;Excel Vessel Share Consideration&#148;) and $288,391 in cash. The last Excel Vessel was delivered to the Company in April 2015. The delivery of each Excel Vessel has been reflected in the Company's financial statements as a purchase of assets. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Excel Transactions along with the July&#160;2014 Transactions are herein collectively referred to as the &#147;2014 Transactions&#148;.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Subsidiaries, Owned Vessels and Newbuilding Contracts</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Below is the list of Star Bulk's subsidiaries, all of which are wholly owned, as of June 30, 2015:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels in operation at June 30, 2015</b></i></font></div>
<div style="text-align:right;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:193px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:146px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:91px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Delivered to Star Bulk</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Pearl Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Gargantua (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,529</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 2, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;L.A. Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Deep Blue (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,608</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">May 27, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Ocean Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Leviathan (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,511</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Horizon Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Peloreus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,496</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;22, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Positive Shipping Company</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Indomitable (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,476</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 8, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;OOCAPE1 Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Obelix (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">181,433</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sandra Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Pauline (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2008</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Christine Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Christine (tbr Star Martha) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2010</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Pacific Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pantagruel (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,181</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Borealis LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Borealis</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,678</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;9, 2011</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Polaris LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Polaris</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,600</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;14, 2011</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident V LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angie (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,931</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sky Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Fish (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,643</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Global Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kymopolia (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">176,990</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sea Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Bang (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">174,109</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Aurora LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aurora</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">171,199</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2010</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Lowlands Beilun Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Despoina (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">170,162</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident VII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Eleonora (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 3, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident VI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Monisha (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 2, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Nautical Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Amami (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Majestic Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Madredeus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Sirius LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sirius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;7, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Vega LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vega</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;13, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Alta II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angelina (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,981</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Alta I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gwyneth (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,790</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">26 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Kamila </i>(2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,769</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;3, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">27 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Grain Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pendulum (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,619</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">28 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XIX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Maria (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,598</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 5, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">29 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Markella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,594</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">30 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident IX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Danai (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,574</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 21, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">31 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Georgia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,298</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">32 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident VIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sophia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,269</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">33 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XVI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Mariella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,266</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">34 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XIV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Moira (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,257</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 19, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">35 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XVIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nina (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,224</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 5, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">36 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident X LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Renee (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,221</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 18, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">37 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nasia &#160;(2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,220</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">38 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Laura (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 8, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">39 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Jennifer (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 15, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">40 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XVII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Helena (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,187</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">41 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Mineral Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Mercurial Virgo (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,545</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">42 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;KMSRX Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Magnum Opus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,022</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">43 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Dioriga Shipping Co.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Tsu Ebisu (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,001</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">44 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident&#160;III LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Iris (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,466</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">45 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident IV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aline (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,429</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;4, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">46 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Emily (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,417</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;16, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">47 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Natalie &#160;(2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">73,798</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1998</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">48 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nicole (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">73,751</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 14, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1997</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">49 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vanessa (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">72,493</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 7, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">50 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXVI LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Claudia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">71,662</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 20, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1997</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">51 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Spring Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Idee Fixe (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,458</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 25, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Orion Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Roberta (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,426</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 31, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Success Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Laura (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,399</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 7, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">54 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Ultra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kaley (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,283</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">June 26, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Challenger&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Challenger</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,462</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;12, 2013</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">56 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Challenger&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Fighter</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,455</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;30, 2013</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">57 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Aurelia Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Honey Badger (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,297</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">58 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Rainbow Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Wolverine (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,297</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">59 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Premier Voyage LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Maiden Voyage (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">58,722</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Glory Supra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Strange Attractor (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55,742</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Omicron LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Omicron</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,489</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April&#160;17, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">62 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Gamma LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gamma</i> (ex <i>C Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,098</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;4, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2002</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Zeta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Zeta</i> (ex&#160;I <i>Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,994</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Delta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Delta </i>(ex <i>F Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,434</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">65 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Theta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Theta</i> (ex <i>J Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,425</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;6, 2007</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">66 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Epsilon LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Epsilon</i> (ex <i>G Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,402</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;3, 2007</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">67 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Cosmo LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Cosmo</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,246</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;1, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">68 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Kappa LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Kappa</i> (ex <i>E Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;14, 2007</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">69 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Michele </i>(2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">45,588</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1998</font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:4.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels acquired pursuant to the Merger and the Pappas Transaction</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;Vessels acquired pursuant to the Excel Transactions</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3) &#160;&#160;Vessels acquired from Heron</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(4)&#160;&#160;&#160;&#160;&#160;&#160;Vessels subject to a capital bareboat lease (Note 5)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Newbuildings at June 30, 2015</b></i></font></div>
<div style="text-align:center;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Newbuildings Name</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Expected Delivery</b></font></div></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sea Diamond Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 167 <i>(</i>tbn<i> Goliath) </i>(Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Coral Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 184 <i>(</i>tbn<i> Maharaj) </i>(Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Ennea LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 198 (tbn <i>Star Poseidon</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Clearwater Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1359 (tbn <i>Star Marisa</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Seeker LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1372 (tbn <i>Star Libra</i>) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Domus Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1360 (tbn <i>Star Ariadne</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Castle&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1342 (tbn <i>Star Gemini</i>) (1)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Breezer LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1371 (tbn <i>Star Virgo</i>) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Festive Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1361 (tbn <i>Star Magnanimus</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">May&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Castle&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1343 (tbn <i>Star Leo</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;White Sand Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1363 (tbn <i>Star Chaucer</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Confidence Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5055 <i>(</i>tbn<i> Behemoth)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Runner Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5056 <i>(</i>tbn<i> Megalodon)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Olympia Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1312 <i>(</i>tbn<i> Bruno Marks)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Victory Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1313 <i>(</i>tbn<i> Jenmark)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Cape&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1338 (tbn <i>Star Aries</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Cape&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1339 (tbn <i>Star Taurus</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Blooming Navigation LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1080 <i>(</i>tbn<i> Kennadi)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Jasmine Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1081 <i>(</i>tbn<i> Mackenzie)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Oday Marine LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1082 <i>(</i>tbn<i> Night Owl)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Searay Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1083 <i>(</i>tbn<i> Early Bird)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Axe&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 196 (tbn <i>Star Antares</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Axe&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 197 (tbn <i>Star Lutas</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Asia&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5040 (tbn <i>Star Aquarius</i>) (Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Asia&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5043 (tbn <i>Star Pisces</i>) (Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;2015</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels acquired pursuant to the Merger and the Pappas Transaction</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;Subject to a capital bareboat lease (Note 6)</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Non-vessel owning subsidiaries at June 30, 2015</b></i></font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Management Inc.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Starbulk S.A.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Manning LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Omas LLC (1) </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Synergy LLC (1)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Carriers LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">International Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Unity Holding LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk (USA) LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXI LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIV LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVII LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXXI LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIX LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVIII LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Lamda LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alpha LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Beta LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Ypsilon LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Mega LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Big LLC (2)</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Entities established to merge with the holding companies of Oceanbulk</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;Owning companies of vessels which were sold that currently have no operations</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Below is the list of the vessels which were under commercial and technical management by Star Bulk's wholly owned subsidiary, Starbulk S.A., during the six month period ended June 30, 2014. &#160;For each vessel, Starbulk S.A. received a fixed management fee of $0.75 per day.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:center;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Owning Company</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Effective Date</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>of Management</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Agreement</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Global Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Kymopolia</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">176,990</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">January&#160;30, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">OOCAPE1 Holdings LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Obelix</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">181,433</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October&#160;19, 2012</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pacific Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Pantagruel</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">180,181</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October&#160;24, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sea Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Big Bang</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">174,109</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August&#160;30, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sky Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Big Fish</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">177,662</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October&#160;18, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Majestic Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Madredeus</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">98,681</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;4, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Nautical Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Amami</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">98,681</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;4, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Grain Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Pendulum</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">82,619</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;17, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Mineral Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Mercurial Virgo</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">81,545</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;17, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Adore Shipping Corp.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Renascentia (2)</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,732</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 20, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Hamon Shipping Inc</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Marto</i> (3)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,470</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August&#160;2, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Glory Supra Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Strange Attractor</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">55,742</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September&#160;24, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Premier Voyage LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Maiden Voyage</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58,722</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September&#160;28, 2012</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Serenity Maritime Inc.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Serenity I</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">53,688</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June&#160;11, 2011</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;The respective companies were related parties, please refer to Note 3, which became wholly owned subsidiaries following the completion of the Merger on July&#160;11, 2014, when the respective management agreements were terminated.</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;On June 20, 2014, this vessel was sold and the management agreement between Starbulk S.A. and the previous owners was terminated. The Company received management fees for a period of two months following the termination date, in accordance with the terms of the management agreement</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3)&#160;&#160;&#160;&#160;&#160;&#160;On July&#160;3, 2014, the Company received a notice of termination of the management agreement for the vessel <i>Marto</i>, one of the third-party owned vessels under the Company's management. &#160;The management agreement was terminated upon the vessel's delivery to its new managers, on August&#160;20, 2014. &#160;The Company was entitled to receive management fees for a period of three months following the termination date, in accordance with the terms of the management agreement.</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"></div><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the business description and basis of presentation concepts.  Business description describes the nature and type of organization including but not limited to organizational structure as may be applicable to holding companies, parent and subsidiary relationships, business divisions, business units, business segments, affiliates and information about significant ownership of the reporting entity.  Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>duration</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711837737216">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Preferred and Common Shares and Additional Paid in Capital - Equity (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">5 Months Ended</th>
<th class="th" colspan="3">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 14, 2015</div></th>
<th class="th"><div>Aug. 19, 2014</div></th>
<th class="th"><div>May. 18, 2015</div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jul. 11, 2014</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Common shares offered in public offering</a></td>
<td class="nump">49,000,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">56,250,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityIssuancePerShareAmount', window );">Public offering price</a></td>
<td class="nump">$ 5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">676,150<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">402,167<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from issuance of common stock</a></td>
<td class="nump">$ 242,211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 175,586<span></span>
</td>
<td class="nump">$ 418,771<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">54,104,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=sblk_InterchartAcquisitionSharesIssuanceMember', window );">Interchart Acquisition Shares Issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired', window );">Percentage of total outstanding common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">33.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued', window );">Shares to acquire business</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,598<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2014Member', window );">Equity Incentive Plan 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">394,167<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2014Member', window );">Equity Incentive Plan 2014 | Directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2014Member', window );">Equity Incentive Plan 2014 | First Installment CEO</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,333<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis=sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember', window );">Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,917,312<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,257,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of equity interests issued or issuable to acquire entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)(4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued</td>
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<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of voting equity interests acquired at the acquisition date in the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25497992&amp;loc=d3e1392-128463<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfStockLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfStockLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityIssuancePerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount per share or per unit assigned to the consideration received of equity securities issued for development stage entities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 915<br><br><br><br> -SubTopic 215<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6472370&amp;loc=d3e38297-110927<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=sblk_InterchartAcquisitionSharesIssuanceMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2014Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=sblk_EquityIncentivePlan2014Member</td>
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<td></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=sblk_DirectorsMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=sblk_ChiefExecutiveOfficerFirstInstallmentMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis=sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867606752">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Transactions with Related Parties - Excel Vessel Bridge Facility (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Transactions with Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent', window );">Excel Vessel Bridge Facility - current portion</a></td>
<td class="nump">$ 0<span></span>
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<td class="nump">$ 8,168<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesNoncurrent', window );">Excel Vessel Bridge Facility - non- current portion</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">47,993<span></span>
</td>
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<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Total Excel Vessel Bridge Facility</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 56,161<span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), due to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a)(5))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesClassifiedCurrent</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), due to related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), payable to related parties, which are due after one year (or one business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.23)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 23<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesNoncurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
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<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<td>na</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712071650352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value of Above-Market Acquired Time Charters (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract', window );"><strong>Fair Value Of Above-Market Acquired Time Charters [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock', window );">Estimated aggregate amortization expense of the above market acquired time charters</a></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
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    <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:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:112px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:112px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,723</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
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</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_FairValueOfAbove-MarketAcquiredTimeChartersAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867746416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract', window );"><strong>Advances for vessels under construction and acquisition of vessels [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsAcquisitionsTableTextBlock', window );">Advances for vessels under construction and acquisition of vessels</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none">
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    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:39px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:102px;"><div style="text-align:right;text-indent:0.0px;"><br/><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pre-delivery yard installments </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">270,947</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">206,997</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fair value adjustment (Note 1)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">137,923</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">86,400</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat capital leases -&#160;upfront hire and handling fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31,467</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">44,551</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Capitalized interest and finance costs</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,654</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14,636</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other capitalized costs (Note 3) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,542</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,554</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Advances for secondhand vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">79</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Impairment charge</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(19,467</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>454,612</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>337,671</b></font></div></td>
  </tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure for advances paid to yard and capitalized expenses for the acquisition of vessels.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711837584592">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Long-term Debt - Bank loans and notes (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">$ 858,068<span></span>
</td>
<td class="nump">$ 861,793<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumtermNotesNoncurrent', window );">Loan amount</a></td>
<td class="nump">50,000<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_Commerzbank12000026000FacilitiesMember', window );">Commerzbank $120,000 and $26,000 facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">44,417<span></span>
</td>
<td class="nump">74,680<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_CreditAgricoleCorporateAndInvestmentBankMember', window );">Credit Agricole Corporate and Investment Bank $70,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">52,998<span></span>
</td>
<td class="nump">54,968<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_AbnAmroBankMember', window );">ABN Amro Bank N.V. $31,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">12,800<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_HshNordbankAg3Member', window );">HSH Nordbank AG $64,500 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">24,547<span></span>
</td>
<td class="nump">29,600<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_HshNordbankAgMember', window );">HSH Nordbank AG $35,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">31,979<span></span>
</td>
<td class="nump">33,187<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DeutscheBankMember', window );">Deutsche Bank AG $39,000 facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">35,100<span></span>
</td>
<td class="nump">36,660<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_ABNFacilityMember', window );">ABN $87,458 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">71,740<span></span>
</td>
<td class="nump">76,689<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DeutscheBankFacilityMember', window );">Deutsche Bank $85,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">79,875<span></span>
</td>
<td class="nump">82,708<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_HSBCFacilityMember', window );">HSBC $86,600 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">80,380<span></span>
</td>
<td class="nump">83,490<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_CEXIMFacilityMember', window );">CEXIM $57,360 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DiorigaFacilityMember', window );">HSBC $20,000 Dioriga Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">18,600<span></span>
</td>
<td class="nump">19,300<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember', window );">NIBC $32,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember', window );">BNP $32,480 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">31,406<span></span>
</td>
<td class="nump">32,480<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselBridgeFacilityMember', window );">Excel Vessel Bridge Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">56,161<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBFacilityMember', window );">DVB $24,750 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">22,950<span></span>
</td>
<td class="nump">24,750<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember', window );">Excel Vessel CiT Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">30,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember', window );">Sinosure Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">37,366<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_CitiFacilityMember', window );">Citi Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">87,329<span></span>
</td>
<td class="nump">51,478<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_FinancingHeronVesselsMember', window );">Heron Vessels Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">21,589<span></span>
</td>
<td class="nump">24,567<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNBFacilityMember', window );">DNB $120,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">106,712<span></span>
</td>
<td class="nump">88,275<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember', window );">DVB $31,000 Deep Blue Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">28,680<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember', window );">DNB-SEB-CEXIM $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebt', window );">Loan amount</a></td>
<td class="nump">32,400<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember', window );">8.00% 2019 Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumtermNotesNoncurrent', window );">Loan amount</a></td>
<td class="nump">$ 50,000<span></span>
</td>
<td class="nump">$ 50,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.16)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 9<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20, 22<br><br><br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MediumtermNotesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value at the balance sheet date of the noncurrent portion of a financial instrument used to receive debt funding on a regular basis with original maturities ranging from 5-10 years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MediumtermNotesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_Commerzbank12000026000FacilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_Commerzbank12000026000FacilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_CreditAgricoleCorporateAndInvestmentBankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_CreditAgricoleCorporateAndInvestmentBankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_AbnAmroBankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_AbnAmroBankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_HshNordbankAg3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_HshNordbankAg3Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_HshNordbankAgMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_HshNordbankAgMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DeutscheBankMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DeutscheBankMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_ABNFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_ABNFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DeutscheBankFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DeutscheBankFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_HSBCFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_HSBCFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_CEXIMFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_CEXIMFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DiorigaFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DiorigaFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_NIBCFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_BNPFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselBridgeFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselBridgeFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DVBFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselCITFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_SinosureFacilityMember</td>
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<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_FinancingHeronVesselsMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNBFacilityMember</td>
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<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711847855872">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Transactions with Related Parties - Capitalized Expenses (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract', window );"><strong>Advances for vessels under construction and acquisition of vessels</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
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<td class="nump">$ 337,671<span></span>
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<td class="nump">$ 454,612<span></span>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember', window );">Oceanbulk Maritime S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract', window );"><strong>Advances for vessels under construction and acquisition of vessels</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Commission fee for newbuilding vessels</a></td>
<td class="nump">$ 1,557<span></span>
</td>
<td class="nump">$ 1,038<span></span>
</td>
</tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AdvancesForVesselsUnderConstructionAcquisitionVesselsOtherAssetsAbstract</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressGross</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867712560">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract', window );"><strong>Long-term Debt [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDebtTableTextBlock', window );">Bank loans and notes</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:26px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Commerzbank $120,000 and $26,000 facilities</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,680</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">44,417</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit Agricole Corporate and Investment Bank $70,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54,968</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52,998</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ABN AMRO Bank N.V. $31,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12,800</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH Nordbank AG $64,500 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29,600</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,547</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH Nordbank AG $35,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">33,187</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31,979</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deutsche Bank AG $39,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">36,660</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35,100</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ABN $87,458 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">76,689</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">71,740</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deutsche Bank $85,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">82,708</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">79,875</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSBC $86,600 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">83,490</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">80,380</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">CEXIM $57,360 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSBC $20,000 Dioriga Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19,300</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18,600</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">NIBC $32,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">BNP $32,480 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">32,480</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31,406</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excel Vessel Bridge Facility </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">56,161</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DVB $24,750 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,750</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">22,950</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excel Vessel CiT Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">30,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sinosure Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">37,366</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Citi Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">51,478</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">87,329</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Heron Vessels Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,567</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,589</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DNB $120,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">88,275</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">106,712</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DVB $31,000 Deep Blue Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,680</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DNB-SEB-CEXIM 227,500 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">32,400</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8.00% 2019 Notes</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:13px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>861,793</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>858,068</b></font></div></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Principal payments</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">93,128</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">140,554</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">89,780</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">203,411</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">215,902</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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:29px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">115,293</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total (including 8% 2019 Notes)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>858,068</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excluding 8.00% 2019 Notes</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Long term debt</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>808,068</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">93,128</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt -&#160;non-current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">714,940</font></div></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_InterestFinanceCostsTableTextBlock', window );">Interest and finance costs</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:417px;height:36px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" colspan="3" style=" border:solid #000000 0.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>2014 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;height:12px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest on long term debt </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$3,936 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$16,991 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less: Interest capitalized </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,252</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(6,221</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:38px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,491 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amortization of loan expenses </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;284 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,199 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other bank and finance charges </font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">89</font></div></td>
    <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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">411</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Interest and finance costs</b></font></div></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of interest and finance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711851826976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / Loss per Share (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings / Loss per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Schedule of earnings / (loss) per share</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:241px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <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:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Income / (Loss):</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net &#160;income / (loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,870</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(105,197</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Basic &#160;earnings/ &#160;(loss) per share:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, basic</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,973,621 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">171,736,658 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Basic earnings &#160;(loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.13)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.61)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Effect of dilutive securities:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dilutive effect of non-vested shares</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, diluted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,973,621 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">171,736,658 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Diluted &#160;earnings / (loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:133.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.13)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.61)</b></font></div></td>
  </tr>
  <tr>
    <td style="width:303px;"></td>
    <td style="width:115px;"></td>
    <td style="width:19px;"></td>
    <td style="width:81px;"></td>
    <td style="width:37px;"></td>
    <td style="width:16px;"></td>
    <td style="width:86px;"></td>
  </tr>
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<div></div><span></span>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852747440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash Flows from Operating Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (105,197)<span></span>
</td>
<td class="num">$ (3,870)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">38,519<span></span>
</td>
<td class="nump">9,777<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter', window );">Amortization of fair value of above market acquired time charters (Note 7)</a></td>
<td class="nump">7,071<span></span>
</td>
<td class="nump">3,149<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of deferred finance charges (Note 8)</a></td>
<td class="nump">1,199<span></span>
</td>
<td class="nump">284<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment (Note 8)</a></td>
<td class="nump">974<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnContractTermination', window );">Loss on time charter agreement termination (Note 7)</a></td>
<td class="nump">2,114<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss (Note 5 and Note 6)</a></td>
<td class="nump">28,829<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on sale of vessel (Note 5)</a></td>
<td class="nump">13,389<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Stock-based compensation (Note 12)</a></td>
<td class="nump">1,407<span></span>
</td>
<td class="nump">1,903<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnDerivatives', window );">Change in fair value of derivatives</a></td>
<td class="nump">59<span></span>
</td>
<td class="nump">819<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncomeExpense', window );">Other non-cash charges</a></td>
<td class="nump">34<span></span>
</td>
<td class="nump">215<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_GainFromInsuranceClaim', window );">Gain from insurance claim</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(237)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity of income of investee</a></td>
<td class="num">(213)<span></span>
</td>
<td class="num">(1)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Trade accounts receivable</a></td>
<td class="nump">6,449<span></span>
</td>
<td class="num">(1,223)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Inventories</a></td>
<td class="num">(2,323)<span></span>
</td>
<td class="num">(3,501)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="num">(1,069)<span></span>
</td>
<td class="num">(602)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent', window );">Due from related parties</a></td>
<td class="num">(426)<span></span>
</td>
<td class="num">(1,467)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableTrade', window );">Accounts payable</a></td>
<td class="num">(3,814)<span></span>
</td>
<td class="nump">2,060<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="num">(1,266)<span></span>
</td>
<td class="nump">917<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilities', window );">Accrued liabilities</a></td>
<td class="nump">863<span></span>
</td>
<td class="nump">2,207<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherAccountsPayable', window );">Due to managers</a></td>
<td class="nump">4,539<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
<td class="num">(637)<span></span>
</td>
<td class="nump">54<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by/(used in) Operating Activities</a></td>
<td class="num">(9,499)<span></span>
</td>
<td class="nump">10,485<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash Flows from Investing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Advances for vessels under construction and acquisition of vessels and other assets (Note 5 and Note 6)</a></td>
<td class="num">(317,538)<span></span>
</td>
<td class="num">(74,267)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireLongtermInvestments', window );">Long-term investment</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(200)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Cash proceeds from vessel sale (Note 5)</a></td>
<td class="nump">38,831<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities', window );">Hull and Machinery Insurance proceeds</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">550<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DecreaseInRestrictedCash', window );">Decrease in restricted cash</a></td>
<td class="nump">3,487<span></span>
</td>
<td class="nump">22<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseInRestrictedCash', window );">Increase in restricted cash</a></td>
<td class="num">(3,304)<span></span>
</td>
<td class="num">(4,102)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by/(used in) Investing Activities</a></td>
<td class="num">(278,524)<span></span>
</td>
<td class="num">(77,997)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash Flows from Financing Activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Proceeds from bank loans</a></td>
<td class="nump">266,181<span></span>
</td>
<td class="nump">74,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Loan prepayments and repayments</a></td>
<td class="num">(188,226)<span></span>
</td>
<td class="num">(10,452)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Financing fees paid</a></td>
<td class="num">(8,526)<span></span>
</td>
<td class="num">(914)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceeds from issuance of common shares (Note 9)</a></td>
<td class="nump">418,771<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfStockIssuanceCosts', window );">Offering expenses paid related to the issuance of common shares (Note 9)</a></td>
<td class="num">(974)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by/(used in) Financing Activities</a></td>
<td class="nump">487,226<span></span>
</td>
<td class="nump">62,634<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net (decrease) / increase in cash and cash equivalents</a></td>
<td class="nump">199,203<span></span>
</td>
<td class="num">(4,878)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
<td class="nump">86,000<span></span>
</td>
<td class="nump">44,298<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of the period</a></td>
<td class="nump">285,203<span></span>
</td>
<td class="nump">39,420<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Cash paid during the period for:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Interest</a></td>
<td class="nump">$ 19,844<span></span>
</td>
<td class="nump">$ 2,540<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amortization of the asset arising from the market value of the time charter assumed from a vessel acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AmortizationOfFairValueOfAboveMarketAcquiredTimeCharter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_GainFromInsuranceClaim">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the gain arising from insurance claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_GainFromInsuranceClaim</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 230<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DecreaseInRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DecreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnContractTermination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) related to the termination of a contract between the parties. The termination may be due to many causes including early termination of a lease by a lessee, a breach of contract by one party, or a failure to perform.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnContractTermination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12317-112629<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12355-112629<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 323<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.12)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 11<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableTrade">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableTrade</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherAccountsPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other obligations due by the reporting entity that are payable within one year (or one business cycle), not otherwise defined in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherAccountsPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseInRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNoncashIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfStockIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for cost incurred directly with the issuance of an equity security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfStockIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireLongtermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, beyond the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the long-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireLongtermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromInsuranceSettlementInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the amounts received by the insured under the terms of an insurance contract settlement. This element pertains only to insurance proceeds related to investments, for example fixed assets. It excludes insurance settlements classified as operating cash flows.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromInsuranceSettlementInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the additional capital contribution to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 12<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfDebt</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrealizedGainLossOnDerivatives">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrealizedGainLossOnDerivatives</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td>duration</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711847515344">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option</a></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:54px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <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:253px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Outstanding at January 1, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:54px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;521,250 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5.5</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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:54px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.4121 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:12px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Outstanding as of June 30, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" 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:58px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>521,250</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>5.5</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" 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:54px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.4121</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:253px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:58px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:54px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_RestrictedStockMember', window );">Restricted common shares</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Equity Incentive Plans [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock', window );">Schedule of non-vested shares and weighted average grant date fair value</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:38px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">276,667</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7.46</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">402,167</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(266,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7.65</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">412,834</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.65</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2015</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">676,150</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3.55</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(394,167</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.86</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2015</b></font></div></td>
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    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">676,150</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3.55</font></div></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711858578624">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - The Excel Transactions (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Aug. 19, 2014 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
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<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 317,538<span></span>
</td>
<td class="nump">$ 74,267<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis=sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember', window );">Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Vessels Acquired</a></td>
<td class="nump">34<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to acquire property plant and equipment</a></td>
<td class="nump">$ 288,391<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Shares to acquire vessels | shares</a></td>
<td class="nump">29,917,312<span></span>
</td>
<td class="nump">4,257,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CapesizeVesselsMember', window );">Capesize vessels | Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Vessels Acquired</a></td>
<td class="nump">6<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KamsarmaxVesselsMember', window );">Kamsarmax vessels | Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Vessels Acquired</a></td>
<td class="nump">14<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PanamaxVesselsMember', window );">Panamax vessels | Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Vessels Acquired</a></td>
<td class="nump">12<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HandymaxVesselsMember', window );">Handymax vessels | Definite Agreements with Excel Maritime Carriers Ltd</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAcquired', window );">Vessels Acquired</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of vessels acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAcquired</td>
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<td>na</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
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<tr>
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<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsByTransactionAxis=sblk_ExcelMaritimeCarriersLtdDefiniteAgreementsMember</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CapesizeVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CapesizeVesselsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KamsarmaxVesselsMember</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PanamaxVesselsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HandymaxVesselsMember</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711849313984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">2 Months Ended</th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Feb. 17, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 27, 2013 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,829<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsUnderCapitalLeases', window );">Bareboat capital leases - upfront hire &amp; handling fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,669<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCVesselsMember', window );">CSSC Vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">Vessel Capacity</a></td>
<td class="nump">208,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment', window );">Additional payments to acquire property plant and equipment</a></td>
<td class="nump">$ 300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_HandlingFees', window );">Handling Fees</a></td>
<td class="nump">936<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_OtherVesselAcquisitionCosts', window );">Other expenses capitalized</a></td>
<td class="nump">$ 669<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasedAssetsNumberOfUnits', window );">Number of vessels</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCVesselsMember', window );">CSSC Vessels | First Installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_HandlingFees', window );">Handling Fees</a></td>
<td class="nump">$ 462<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCFirstVesselMember', window );">CSSC First Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_PurchasePriceObligation', window );">Vessel purchase price obligation</a></td>
<td class="nump">14,160<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCSecondVesselMember', window );">CSSC Second Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_PurchasePriceObligation', window );">Vessel purchase price obligation</a></td>
<td class="nump">13,919<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_FinancedBySWSOwnerMember', window );">Financed by SWS owner | CSSC First Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds', window );">Financed cost</a></td>
<td class="nump">47,200<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_FinancedBySWSOwnerMember', window );">Financed by SWS owner | CSSC Second Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds', window );">Financed cost</a></td>
<td class="nump">$ 46,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember', window );">Merger and Pappas Transaction - five newbuilding vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">Vessel Capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds', window );">Financed cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 46,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_HandlingFees', window );">Handling Fees</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">464<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_PurchasePriceObligation', window );">Vessel purchase price obligation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,919<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AgreedExtraCostsForNewbuildings', window );">Agreed extra costs for newbuildings</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,680<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,009<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasedAssetsNumberOfUnits', window );">Number of vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember', window );">Merger and Pappas Transaction - five newbuilding vessels | Impairment charge, Fair value adjustment portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_RelatedPartiesAgreementSaleOfVesselMember', window );">Agreement with a third party - Sale of Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,458<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TransactionTypeAxis=sblk_RelatedPartiesAgreementSaleOfVesselMember', window );">Agreement with a third party - Sale of Vessel | Impairment charge, Fair value adjustment portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The additional cash outflow  associated with the acquisition of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AdditionalPaymentsToAcquirePropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AdvancesForVesselsUnderCapitalLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of vessels, bareboats, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AdvancesForVesselsUnderCapitalLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AgreedExtraCostsForNewbuildings">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of agreed extra costs for newbuilding vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AgreedExtraCostsForNewbuildings</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_HandlingFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of fees related to handling fees at acquisition of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_HandlingFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_OtherVesselAcquisitionCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of extra fees related to acquisition of property, plant and equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_OtherVesselAcquisitionCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_PurchasePriceObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchase price payable at the end of the bareboat charter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_PurchasePriceObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasedAssetsNumberOfUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units (items of property) under capital lease arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasedAssetsNumberOfUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:decimalItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of all consideration given or received by the Entity in the significant acquisition or disposal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SignificantAcquisitionsAndDisposalsAcquisitionCostsOrSaleProceeds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCVesselsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCVesselsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TypeOfArrangementAxis=sblk_FirstInstallmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TypeOfArrangementAxis=sblk_FirstInstallmentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCFirstVesselMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCFirstVesselMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCSecondVesselMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_CSSCSecondVesselMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_FinancedBySWSOwnerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransactionTypeAxis=sblk_FinancedBySWSOwnerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransactionTypeAxis=sblk_MergerPappasTransactionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByMeasurementBasisAxis=sblk_FairValueAdjustmentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByMeasurementBasisAxis=sblk_FairValueAdjustmentMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TransactionTypeAxis=sblk_RelatedPartiesAgreementSaleOfVesselMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TransactionTypeAxis=sblk_RelatedPartiesAgreementSaleOfVesselMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711851090000">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements - Additional Information (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th"><div>Apr. 28, 2014</div></th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2013 </div>
<div>USD ($)</div>
</th>
<th class="th"><div>Sep. 30, 2013</div></th>
<th class="th">
<div>Oct. 01, 2015 </div>
<div>USD ($)</div>
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<div>Mar. 31, 2015 </div>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=sblk_InterestRateSwap1Member', window );">Interest Rate Swap A - fix forward floating interest rate for first tranche of Credit Agricole $70,000 Facility</a></td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Aug.  09,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative Asset Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,869<span></span>
</td>
<td class="nump">$ 26,840<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Fixed rate, per annum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.705%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=sblk_InterestRateSwap2Member', window );">Interest Rate Swap B - fix forward floating interest rate for second tranche of Credit Agricole $70,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Nov.  09,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative Asset Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,129<span></span>
</td>
<td class="nump">$ 28,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Fixed rate, per annum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.72%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=sblk_FixForwardFloatingInterestRateForLiabilityMember', window );">Fix forward 50% of floating interest rate for the HSH Nordbank AG $35,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfInterestRateDerivativesHeld', window );">Number of interest rate derivatives held by the Company</a></td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">Sep. 28,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative Asset Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15,990<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeFixedInterestRate', window );">Fixed rate, per annum</a></td>
<td class="nump">1.765%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeByNatureAxis=sblk_GoldmanSachsSwapsMember', window );">Goldman Sachs Swaps</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfInterestRateDerivativesHeld', window );">Number of interest rate derivatives held by the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeMaturityDates', window );">Maturity date</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">Apr.  01,  2018<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeAssetNotionalAmount', window );">Derivative Asset Notional Amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">343,533<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 461,264<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLowerFixedInterestRateRange', window );">Derivative lower fixed interest rate range</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.79%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeHigherFixedInterestRateRange', window );">Derivative higher fixed interest rate range</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.07%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax', window );">Accumulated other comprehensive loss</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,639<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member', window );">Quoted Prices in Active Markets for Identical Liabilities (Level 1)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableFairValueDisclosure', window );">8.00% 2019 Notes fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 44,360<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=sblk_Issuance50MillionNotesMember', window );">8.00% 2019 Notes</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLineItems', window );"><strong>Derivative</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">SBLKL<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10A<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736893&amp;loc=d3e80784-113994<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossCumulativeChangesInNetGainLossFromCashFlowHedgesEffectNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeAssetNotionalAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Nominal or face amount used to calculate payments on the derivative asset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1A<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5579245-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Notional Amount<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519104<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1B<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5580258-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fixed interest rate related to the interest rate derivative.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>High end of the range of fixed interest rates when a range is presented for a group of interest rate derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLineItems</td>
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<td>xbrli:stringItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLowerFixedInterestRateRange">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Low end of the range of fixed interest rates when a range is presented for a group of interest rate derivatives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLowerFixedInterestRateRange</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Date the derivative contract matures, in CCYY-MM-DD format.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of notes payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableFairValueDisclosure</td>
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<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfInterestRateDerivativesHeld">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of interest rate derivative instruments held by the entity at the reporting date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1B<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5580258-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1A<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5579245-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfInterestRateDerivativesHeld</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840249584">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (unaudited) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 285,203<span></span>
</td>
<td class="nump">$ 86,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash, current (Note 8)</a></td>
<td class="nump">2,769<span></span>
</td>
<td class="nump">3,352<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Trade accounts receivable</a></td>
<td class="nump">18,316<span></span>
</td>
<td class="nump">24,765<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Inventories (Note 4)</a></td>
<td class="nump">16,691<span></span>
</td>
<td class="nump">14,368<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivablesNetCurrent', window );">Due from managers</a></td>
<td class="nump">81<span></span>
</td>
<td class="nump">81<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromRelatedPartiesCurrent', window );">Due from related parties (Note 3)</a></td>
<td class="nump">671<span></span>
</td>
<td class="nump">245<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
<td class="nump">1,524<span></span>
</td>
<td class="nump">1,269<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other receivables</a></td>
<td class="nump">5,164<span></span>
</td>
<td class="nump">4,350<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total Current Assets</a></td>
<td class="nump">330,419<span></span>
</td>
<td class="nump">134,430<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>FIXED ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Advances for vessels under construction and acquisition of vessels (Note 6)</a></td>
<td class="nump">337,671<span></span>
</td>
<td class="nump">454,612<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsAndOtherFixedAssetsNet', window );">Vessels and other fixed assets, net (Note 5)</a></td>
<td class="nump">1,772,664<span></span>
</td>
<td class="nump">1,441,851<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Total Fixed Assets</a></td>
<td class="nump">2,110,335<span></span>
</td>
<td class="nump">1,896,463<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrentAbstract', window );"><strong>OTHER NON-CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermInvestments', window );">Long term Investment (Note 3)</a></td>
<td class="nump">847<span></span>
</td>
<td class="nump">634<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNoncurrentNet', window );">Deferred finance charges, net</a></td>
<td class="nump">13,002<span></span>
</td>
<td class="nump">8,029<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent', window );">Restricted cash, non-current (Note 8 )</a></td>
<td class="nump">11,020<span></span>
</td>
<td class="nump">10,620<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_FairValueOfAboveMarketAcquiredTimeCharter', window );">Fair value of above market acquired time charter (Note 7)</a></td>
<td class="nump">2,723<span></span>
</td>
<td class="nump">11,908<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">2,468,346<span></span>
</td>
<td class="nump">2,062,084<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansPayableToBankCurrent', window );">Current portion of long term debt (Note 8)</a></td>
<td class="nump">93,128<span></span>
</td>
<td class="nump">88,317<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Lease commitments short term (Note 5)</a></td>
<td class="nump">4,380<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent', window );">Excel Vessel Bridge Facility from related parties, current portion (Note 3 and Note 8)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">8,168<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableTradeCurrent', window );">Accounts payable</a></td>
<td class="nump">10,898<span></span>
</td>
<td class="nump">18,487<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancePaymentForVesselDisposal', window );">Due to buyers (Note 5)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties (Note 3)</a></td>
<td class="nump">900<span></span>
</td>
<td class="nump">2,166<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeePayable', window );">Due to managers</a></td>
<td class="nump">4,539<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued liabilities</a></td>
<td class="nump">14,171<span></span>
</td>
<td class="nump">13,738<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Derivative liability, current (Note 14)</a></td>
<td class="nump">7,247<span></span>
</td>
<td class="nump">5,722<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue</a></td>
<td class="nump">1,863<span></span>
</td>
<td class="nump">2,500<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total Current Liabilities</a></td>
<td class="nump">137,126<span></span>
</td>
<td class="nump">140,198<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesNoncurrentAbstract', window );"><strong>NON-CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MediumtermNotesNoncurrent', window );">8.00% 2019 Notes (Note 8)</a></td>
<td class="nump">50,000<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermLoansFromBank', window );">Long term debt (Note 8)</a></td>
<td class="nump">714,940<span></span>
</td>
<td class="nump">667,315<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsNoncurrent', window );">Lease commitments long term (Note 5)</a></td>
<td class="nump">77,300<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesNoncurrent', window );">Excel Vessel Bridge Facility from related parties, non current portion (Note 3 and Note 8)</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">47,993<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesNoncurrent', window );">Derivative liability, non current (Note 14)</a></td>
<td class="nump">3,653<span></span>
</td>
<td class="nump">2,010<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesNoncurrent', window );">Other non-current liabilities</a></td>
<td class="nump">300<span></span>
</td>
<td class="nump">266<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">$ 983,319<span></span>
</td>
<td class="nump">$ 907,782<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">COMMITMENTS &amp; CONTINGENCIES (Note 13)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>STOCKHOLDERS' EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred Shares; $0.01 par value, authorized 25,000,000 shares; none issued or outstanding at December 31, 2014 and June 30, 2015 (Note 9)</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common Shares, $0.01 par value, 300,000,000 shares authorized; 109,426,236 and 218,934,541 shares issued and outstanding at December 31, 2014 and June 30, 2015, respectively (Note 9)</a></td>
<td class="nump">2,189<span></span>
</td>
<td class="nump">1,094<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid in capital (Note 9)</a></td>
<td class="nump">2,005,649<span></span>
</td>
<td class="nump">1,567,713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive loss (Note 14)</a></td>
<td class="num">(3,487)<span></span>
</td>
<td class="num">(378)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(519,324)<span></span>
</td>
<td class="num">(414,127)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total Stockholders' Equity</a></td>
<td class="nump">1,485,027<span></span>
</td>
<td class="nump">1,154,302<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY</a></td>
<td class="nump">$ 2,468,346<span></span>
</td>
<td class="nump">$ 2,062,084<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AdvancePaymentForVesselDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of advance payment for vessel disposal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AdvancePaymentForVesselDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_FairValueOfAboveMarketAcquiredTimeCharter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The asset arising from the market value of the time charter contract assumed from a vessel acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_FairValueOfAboveMarketAcquiredTimeCharter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsAndOtherFixedAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents vessels and other fixed assets, net of accumulated depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselsAndOtherFixedAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableTradeCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableTradeCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e681-108580<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669686-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of capital lease obligation due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeaseObligationsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeaseObligationsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 7<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 5<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNoncurrentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net amount of long-term deferred finance costs capitalized at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNoncurrentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRevenueCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34720828&amp;loc=SL20225862-175312<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13433-108611<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13495-108611<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34720828&amp;loc=SL20225862-175312<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13433-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35750535&amp;loc=d3e13495-108611<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DerivativeLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3(a)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 2<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386567&amp;loc=d3e3927-108312<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansPayableToBankCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of current portion of long-term loans payable to bank due within one year or the operating cycle if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansPayableToBankCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of investments that are intended to be held for an extended period of time (longer than one operating cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.12)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermLoansFromBank">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of loans from a bank with maturities initially due after one year or beyond the operating cycle if longer, excluding current portion.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermLoansFromBank</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount of the unpaid portion of the fee payable to the managing member or general partner for management of the fund or trust.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MediumtermNotesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value at the balance sheet date of the noncurrent portion of a financial instrument used to receive debt funding on a regular basis with original maturities ranging from 5-10 years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 16<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MediumtermNotesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesClassifiedCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), due to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a)(5))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesClassifiedCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), payable to related parties, which are due after one year (or one business cycle).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.23)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 23<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 24<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivablesNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of other receivables, net, due within one year of the balance sheet date (or one operating cycle, if longer) from third parties or arising from transactions not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherReceivablesNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
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<td>us-gaap_</td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711847357312">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties - Statements of Operations (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fee expense</a></td>
<td class="nump">$ 4,063<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">136<span></span>
</td>
<td class="nump">1,861<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember', window );">Interchart</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_RelatedPartiesCommissionsFees', window );">Voyage expenses</a></td>
<td class="num">(1,650)<span></span>
</td>
<td class="num">(385)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ExecutiveOfficerMember', window );">Executive directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ServiceManagementCosts', window );">Consultancy fees</a></td>
<td class="num">(317)<span></span>
</td>
<td class="num">(286)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_NonExecutiveDirectorsMember', window );">Non-executive directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NonExecutiveDirectorsCompensation', window );">Compensation</a></td>
<td class="num">(79)<span></span>
</td>
<td class="num">(71)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember', window );">Combine Marine Ltd.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LeaseAndRentalExpense', window );">Office rent</a></td>
<td class="num">(17)<span></span>
</td>
<td class="num">(21)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember', window );">Maryville Maritime Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fee expense</a></td>
<td class="num">(315)<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ExcelVesselBridgeFacilityIIIMember', window );">Excel Vessel Bridge Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(220)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember', window );">Oceanbulk Maritime S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">93<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember', window );">Managed Vessels of Oceanbulk Shipping LLC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">1,299<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ProductShippingTradingMember', window );">Product Shipping &amp; Trading S.A.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesBaseRevenue', window );">Management fee income</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 62<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenditures for compensation for non executive officers.Examples include, but not limited to, Board of Director's attendance fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NonExecutiveDirectorsCompensation</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_RelatedPartiesCommissionsFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Primarily represents commissions incurred in the period based upon the sale by related parties of the entity's goods or services, and fees for sales assistance or product enhancements performed by related parties (such as a distributor or value added reseller).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_RelatedPartiesCommissionsFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LeaseAndRentalExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LeaseAndRentalExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeesBaseRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Base revenue, as contractually stipulated, for operating and managing another entity's business during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeesBaseRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ServiceManagementCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs related to delivering management services during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.2(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ServiceManagementCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_InterchartShippingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ExecutiveOfficerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_ExecutiveOfficerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_NonExecutiveDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_NonExecutiveDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_CombineMarineLtdMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ExcelVesselBridgeFacilityIIIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ExcelVesselBridgeFacilityIIIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_OceanbulkMaritimeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ManagedVesselsOceanBulkShippingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ProductShippingTradingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ProductShippingTradingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840958688">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Stockholders' Equity - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Common Shares</div></th>
<th class="th"><div>Additional Paid-in Capital</div></th>
<th class="th"><div>Other Comprehensive loss</div></th>
<th class="th"><div>Accumulated deficit</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE, value at Dec. 31, 2013</a></td>
<td class="nump">$ 266,106<span></span>
</td>
<td class="nump">$ 291<span></span>
</td>
<td class="nump">$ 668,219<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="num">$ (402,404)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">BALANCE, shares at Dec. 31, 2013</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,059,671<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">(3,870)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,870)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions', window );">Issuance of common shares - Acquisition of 33% of Interchart (Note 9) / for Excel Transactions (Note 1), value</a></td>
<td class="nump">328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">328<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Issuance of common shares - Acquisition of 33% of Interchart (Note 9) / for Excel Transactions (Note 1), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 12), value</a></td>
<td class="nump">1,903<span></span>
</td>
<td class="nump">$ 4<span></span>
</td>
<td class="nump">1,899<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Issuance of vested and non-vested shares and amortization of stock-based compensation (Note 12), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">411,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE, value at Jun. 30, 2014</a></td>
<td class="nump">264,467<span></span>
</td>
<td class="nump">$ 295<span></span>
</td>
<td class="nump">670,446<span></span>
</td>
<td class="nump">0<span></span>
</td>
<td class="num">(406,274)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">BALANCE, shares at Jun. 30, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">29,493,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE, value at Dec. 31, 2014</a></td>
<td class="nump">1,154,302<span></span>
</td>
<td class="nump">$ 1,094<span></span>
</td>
<td class="nump">1,567,713<span></span>
</td>
<td class="num">(378)<span></span>
</td>
<td class="num">(414,127)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">BALANCE, shares at Dec. 31, 2014</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">109,426,236<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">(105,197)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(105,197)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="num">(3,109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,109)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue', window );">Amortization of stock-based compensation (Note 12)</a></td>
<td class="nump">1,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,407<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Issuance of common shares (Note 9), value</a></td>
<td class="nump">417,797<span></span>
</td>
<td class="nump">$ 1,053<span></span>
</td>
<td class="nump">416,744<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Issuance of common shares (Note 9), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">105,250,418<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalOther', window );">Shares for commission to Oceanbulk Maritime (Note 3)</a></td>
<td class="nump">519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">519<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions', window );">Issuance of common shares - Acquisition of 33% of Interchart (Note 9) / for Excel Transactions (Note 1), value</a></td>
<td class="nump">19,308<span></span>
</td>
<td class="nump">$ 42<span></span>
</td>
<td class="nump">19,266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions', window );">Issuance of common shares - Acquisition of 33% of Interchart (Note 9) / for Excel Transactions (Note 1), shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,257,887<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">BALANCE, value at Jun. 30, 2015</a></td>
<td class="nump">$ 1,485,027<span></span>
</td>
<td class="nump">$ 2,189<span></span>
</td>
<td class="nump">$ 2,005,649<span></span>
</td>
<td class="num">$ (3,487)<span></span>
</td>
<td class="num">$ (519,324)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">BALANCE, shares at Jun. 30, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">218,934,541<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total value of vested and non-vested shares issued during the period and the total amount of stock based compensation amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_IssuanceVestedNonVestedSharesAmortizationStockBasedCompensationValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other increase (decrease) in additional paid in capital (APIC).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 35<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415241&amp;loc=d3e4534-113899<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11149-113907<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32706628&amp;loc=d3e11178-113907<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued during the period pursuant to acquisitions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued pursuant to acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueNewIssues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_OtherComprehensiveIncomeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_OtherComprehensiveIncomeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711850328720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Information Per Loan (Details)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">5 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Apr. 02, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May. 27, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>May. 21, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 13, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2013 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 285,203,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 86,000,000<span></span>
</td>
<td class="nump">$ 39,420,000<span></span>
</td>
<td class="nump">$ 44,298,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,769,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,352,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember', window );">DVB $31,000 Deep Blue Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,680,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityFrequencyOfPayments', window );">Frequency of payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 476,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,245,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_BNPCommittedTermSheetMember', window );">BNP committed term sheet</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 39,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember', window );">DNB-SEB-CEXIM $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Maximum borrowing capacity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 227,500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment', window );">Number of installments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityFrequencyOfPayments', window );">Frequency of payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">quarterly<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityPeriodicPayment', window );">Repayment installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 508,400<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid', window );">Balloon installment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 20,198,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfLoanTranches', window );">Number of loan tranches</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_CommerzbankAgAggregateFacilityMember', window );">Restructuring Agreement - Commerzbank $120,000 and $26,000 facilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DebtInstrumentPrepaymentAmount', window );">Prepayment amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CreditFacilityAxis=sblk_Tranche1Member', window );">Tranche A | DNB-SEB-CEXIM $227,500 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLinesOfCredit', window );">Amount drawn down</a></td>
<td class="nump">$ 32,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=sblk_MinimumLiquidFundsMember', window );">Company's Minimum Liquid Funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_CovenantObligationMinimumLiquidFunds', window );">Liquid funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">200,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=sblk_MinimumLiquidFundsPerVesselMember', window );">Minimum Liquid Funds per Vessel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_CovenantObligationMinimumLiquidFunds', window );">Liquid funds</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_CashAndCashEquivalentsMember', window );">Not legally restricted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35,200,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35,400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementScenarioAxis=us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember', window );">Legally restricted</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,789,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,972,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_CovenantObligationMinimumLiquidFunds">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minimum liquid funds for the company to be allowed to pay dividends.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_CovenantObligationMinimumLiquidFunds</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DebtInstrumentPrepaymentAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of debt prepaid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DebtInstrumentPrepaymentAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_LineOfCreditFacilityNumberOfRepaymentInstallment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of repayment installments of a credit facility agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_LineOfCreditFacilityNumberOfRepaymentInstallment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NumberOfLoanTranches">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of tranches under the credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfLoanTranches</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentPeriodicPaymentTermsBalloonPaymentToBePaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityFrequencyOfPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the frequency of periodic payments, which may be presented in a variety of ways (for example, monthly, quarterly, annually).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityFrequencyOfPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments of both interest and principal.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(b),22(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLinesOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(f))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph f<br><br><br><br> -Article 4<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLinesOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DVBDeepBlueFacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_BNPCommittedTermSheetMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_DNB-SEB-CEXIMFacilityMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CreditFacilityAxis=sblk_Tranche1Member</td>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=sblk_MinimumLiquidFundsPerVesselMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementScenarioAxis=us-gaap_RestrictedCashAndCashEquivalentsCashAndCashEquivalentsMember</td>
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<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711860158032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Pro Forma Consolidated Financial Information (Table) (Details) - 6 months ended Jun. 30, 2014 - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of Presentation and General Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionsProFormaRevenue', window );">Pro forma revenues</a></td>
<td class="nump">$ 73,448<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax', window );">Pro forma operating loss</a></td>
<td class="num">(4,637)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss', window );">Pro forma net loss</a></td>
<td class="num">$ (12,270)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted', window );">Pro forma loss per share, basic and diluted</a></td>
<td class="num">$ (0.15)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The pro forma basic and diluted net income per share for a period as if the business combination or combinations had been completed at the beginning of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_BusinessAcquisitionProFormaEarningsPerShareBasicDiluted</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The pro forma income from continuing operations before changes in accounting and extraordinary items, net of tax effect, for the period as if the business combination or combinations had been completed at the beginning of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(2)-(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25497992&amp;loc=d3e1392-128463<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionsProFormaIncomeLossFromContinuingOperationsBeforeChangesInAccountingAndExtraordinaryItemsNetOfTax</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(2)-(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25497992&amp;loc=d3e1392-128463<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionsProFormaNetIncomeLoss</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(2)-(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25497992&amp;loc=d3e1392-128463<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionsProFormaRevenue</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
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</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712006976432">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Equity Incentive Plans - Summary of non-vested stock options and restricted shares (Table) (Details) - 6 months ended Jun. 30, 2015 - $ / shares<br></strong></div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward', window );"><strong>Shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Outstanding at January 1, 2015</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
<td class="nump">521,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares', window );">Outstanding as of June 30, 2015</a></td>
<td class="nump">521,250<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted average exercise price</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding at January 1, 2015</a></td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted</a></td>
<td class="nump">5.5<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding as of June 30, 2015</a></td>
<td class="nump">5.5<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract', window );"><strong>Weighted Average Grant Date Fair Value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Outstanding at january 1, 2015</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted</a></td>
<td class="nump">1.4121<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Outstanding as of June 30, 2015</a></td>
<td class="nump">$ 1.4121<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (d)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfSharesRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average grant-date fair value of non-vested options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValueAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711850402304">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair value measurements:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Fair value measurements:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">. The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets in accordance with ASC Topic 815, &#147;<i>Derivatives and Hedging</i>&#148;.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b><u>Fair value on a recurring basis:</u></b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Interest rate swaps</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company enters into 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.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In June&#160;2013, the Company entered into two interest rate swap agreements with Credit Agricole Corporate and Investment Bank (the &#147;Credit Agricole Swaps&#148;) to fix forward its floating interest rate liabilities under the two tranches of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were based on an amortizing notional amount beginning from $26,840 and $28,628, for the Star Borealis and Star Polaris tranches, respectively, of the Credit Agricole $70,000 Facility. The Credit Agricole Swaps were effective by November&#160;and August&#160;2014, respectively, and mature in August&#160;and November&#160;2018. Under the terms of the Credit Agricole Swaps, the Company pays on a quarterly basis a fixed rate of 1.705% and 1.720% per annum, respectively, while receiving a variable amount equal to the three month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2015, the notional amount of these swaps was $25,869 and $27,129, for the Star Borealis and the Star Polaris, respectively.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, on April&#160;28, 2014, the Company entered into two interest rate swap agreements (the &#147;HSH Swaps&#148;) to fix forward 50% of its floating interest rate liabilities for the HSH Nordbank $35,000 Facility. The HSH Swaps came into effect in September&#160;2014 and mature in September&#160;2018. Under the terms of the HSH Swaps, the Company pays on a quarterly basis a fixed rate of 1.765% per annum, while receiving a variable amount equal to the three month LIBOR, both applied on the notional amount of the swaps outstanding at each settlement date. As of June 30, 2015, the notional amount of these swaps was $15,990.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Up to August&#160;31, 2014, the Credit Agricole Swaps and the HSH Swaps were not designated as accounting hedges. As a result, the changes in their fair value at each reporting period up to that date, were reported in earnings under &#147;Gain/(Loss) on derivative financial instruments, net&#148;. On August&#160;31, 2014 the Company designated the Credit Agricole Swaps and the HSH Swaps as cash flow hedges in accordance with ASC 815, &#147;<i>Derivatives and Hedging</i>&#148;. Accordingly, in the accompanying unaudited statement of operations for the relevant period, the effective portion of these cash flow hedges is reported in &#147;Accumulated other comprehensive loss&#148;, while the ineffective portion of these cash flow hedges is reported under &#147;Gain / (Loss) on derivative financial instruments, net&#148;.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As part of the Merger, the Company acquired five swap agreements that Oceanbulk Shipping had entered during the third quarter of 2013 with Goldman Sachs Bank USA (the &#147;Goldman Sachs Swaps&#148;). &#160;The Goldman Sachs Swaps were effective by October 2014 and mature in April 2018. Under their terms, Oceanbulk Shipping makes quarterly payments to the counterparty at fixed rates ranging between 1.79% and 2.07% per annum, based on an aggregate notional amount that varies. From July&#160;1, 2015 to October&#160;1, 2015, this notional amount reached an upper limit of $461,264. The counterparty makes quarterly floating rate payments at three-month LIBOR to the Company based on the same notional amount. Upon the completion of the Merger, on July&#160;11, 2014, the Company re-designated the Goldman Sachs Swaps as cash flow hedges in accordance with ASC 815. Accordingly, the effective portion of these cash flow hedges from that date and until March 31, 2015 (see below) were reported in &#147;Accumulated other comprehensive loss&#148;, while the ineffective portion of these cash flow hedges was reported as gain under &#147;Gain /(Loss) on derivative financial instruments, net&#148;, in the statement of operations for the relevant period. As of June 30, 2015, the notional amount of these swaps was $343,533.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Due to (i) changes in the timing of delivery of some of the Company's newbuilding vessels and, by extension, the timing of some of the forecasted transactions, (ii) changes in LIBOR curves, and (iii) the sale of some of the Company's vessels in the second quarter of 2015 whose loans had been designated as hedged items, the &#147;highly effective&#148; criterion of the hedging effectiveness test for the Goldman Sachs Swaps was not satisfied for the quarter ended June 30, 2015, based on the Company's documented method for assessing hedge effectiveness. As a result, the hedging relationship related to the Goldman Sachs Swaps no longer qualify for special hedge accounting, and as of April 1, 2015, the Company de-designated the cash flow hedge related to the Goldman Sachs Swaps. As a result, changes in the fair value of these swaps since the date of de-designation, April 1, 2015, were reported in earnings under &#147;Gain / (Loss) on derivative financial instruments, net&#148;. The amount already reported up to March 31, 2015 in &#147;Accumulated other comprehensive loss&#148; with respect to the corresponding swaps of $3,639 will remain there and will be reclassified to earnings when the hedged forecasted transaction impacts the Company's earnings (i.e., when the hedged loan interest is incurred), except for $227 related to loans of the sold vessels discussed above that were written down to earnings in the period ended June 30, 2015, for which the forecasted transactions are no longer expected to occur.</font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amount recognized in Other comprehensive income/(loss) is derived from the effective portion of unrealized losses from cash flow hedges. </font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts of Gain /(Loss) on derivative financial instruments recognized in the accompanying unaudited interim condensed consolidated statements of operations are analyzed as follows:</font></div>
<div style="margin-left: 14.4px;text-indent:-13.3px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unaudited Condensed Consolidated Statement of Operations</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Gain/(loss) on derivative instruments, net</b></i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&#160;31, 2014)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$&#160;&#160;&#160;&#160;&#160;&#160;(819)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160; &#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;883</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,344)</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(227</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-1.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ineffective portion of cash flow hedges&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) on derivative instruments, net</b>&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$&#160;&#160;&#160;&#160;&#160;&#160; (819)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(688)</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Interest and finance costs</b></i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 30.0px;text-indent:-17.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,491</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) recognized</b>&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(1,491)</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">An amount of approximately ($1,061) is expected to be reclassified into earnings during the following 12-month period when realized.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In relation to the above interest rate swap agreements designated as cash flow hedges and the corresponding amount recorded in &#147;Accumulated other comprehensive loss&#148; as of June 30, 2015, and in accordance with ASC 815 &#147;<i>Derivatives and Hedging - Timing and Probability of the Hedged Forecasted Transaction</i>,&#148; the management of the Company considered the creditworthiness of its counterparties and the expectations of the forecasted transactions and determined that no events have occurred that would make the forecasted transaction not probable.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. &#160;This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. &#160;The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 1:</u>&#160;&#160;&#160;&#160;&#160;&#160;Quoted market prices in active markets for identical assets or liabilities</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 2:</u>&#160;&#160;&#160;&#160;&#160;&#160;Observable market-based inputs or unobservable inputs that are corroborated by market data</font></div>
<div style="text-align:justify;margin-left: 120.0px;margin-bottom:12.0px;text-indent:-72.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 3:</u>&#160;&#160;&#160;&#160;&#160;&#160;Unobservable inputs that are not corroborated by market data</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of the Company's financial instruments as of December 31, 2014 and June 30, 2015 based on Level 2 observable inputs of the fair value hierarchy such as interest rate curves.</font></div>
<div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="top" colspan="4" style=" border:solid #000000 0.0px;width:375px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs (Level 2)</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:187px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:187px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - asset position&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>LIABILITIES</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - liability position&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160; &#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160; 7,732</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;9,819</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;1,081</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b>&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>&#151;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>7,732</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>9,819</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>1,081</b></font></div></td>
  </tr>
  <tr>
    <td style="width:290px;"></td>
    <td style="width:103px;"></td>
    <td style="width:84px;"></td>
    <td style="width:103px;"></td>
    <td style="width:83px;"></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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. &#160;The fair value of long-term bank loans, bearing interest at variable interest rates, approximates their recorded values as of June 30, 2015.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The 8.00% 2019 Notes have a fixed rate, and their estimated fair value, determined through Level 1 inputs of the fair value hierarchy (quoted price on NASDAQ under the ticker symbol SBLKL), is approximately $44,360 as of June 30, 2015.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711768274784">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Vessels in Operation (Table) (Details)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GargantuaMember', window );">Gargantua</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">209,529<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">April 2, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DeepBlueMember', window );">Deep Blue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">182,608<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">May 27, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LeviathanMember', window );">Leviathan</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">182,511<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 19, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PeloreusMember', window );">Peloreus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">182,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 22, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IndomitableMember', window );">Indomitable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">182,476<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 8, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ObelixIMember', window );">Obelix</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">181,433<span></span>
</td>
<td class="nump">181,433<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">2011<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_SandraMember', window );">Star Pauline</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ChristineMember', window );">Christine (tbr Star Martha)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,274<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">October 31, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember', window );">Pantagruel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,181<span></span>
</td>
<td class="nump">180,181<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">2004<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember', window );">Star Borealis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">179,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 9, 2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPolarisMember', window );">Star Polaris</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">179,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">November 14, 2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngieMember', window );">Star Angie</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">177,931<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">October 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember', window );">Big Fish</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">177,643<span></span>
</td>
<td class="nump">177,662<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">2004<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember', window );">Kymopolia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">176,990<span></span>
</td>
<td class="nump">176,990<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">2006<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember', window );">Big Bang</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">174,109<span></span>
</td>
<td class="nump">174,109<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">2007<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAuroraMember', window );">Star Aurora</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">171,199<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 8, 2010<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LowlandsBeilunMember', window );">Star Despoina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">170,162<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">1999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEleonoraMember', window );">Star Eleonora</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">164,218<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 3, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMorishaMember', window );">Star Monisha</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">164,218<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">February 2, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember', window );">Amami</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">98,681<span></span>
</td>
<td class="nump">98,681<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">2011<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember', window );">Madredeus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">98,681<span></span>
</td>
<td class="nump">98,681<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">2011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member', window );">Star Sirius</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">98,681<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">March 7, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member', window );">Star Vega</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">98,681<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">February 13, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngelinaMember', window );">Star Angelina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,981<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 5, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGwynethMember', window );">Star Gwyneth</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,790<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 5, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKamilaMember', window );">Star Kamila</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,769<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 3, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PendulumIMember', window );">Pendulum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,619<span></span>
</td>
<td class="nump">82,619<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">2006<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariaMember', window );">Star Maria</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,598<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">November 5, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarkelaMember', window );">Star Markella</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,594<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarDanaiMember', window );">Star Danai</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,574<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">October 21, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGeorgiaMember', window );">Star Georgia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,298<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">October 14, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSophiaMember', window );">Star Sophia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,269<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">October 31, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariellaMember', window );">Star Mariella</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,266<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 19, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMoiraMember', window );">Star Moira</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,257<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">November 19, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaMember', window );">Star Nina</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,224<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 5, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarReneeMember', window );">Star Renee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,221<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 18, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNasiaMember', window );">Star Nasia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,220<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">August 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLauraMember', window );">Star Laura</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 8, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJenniferMember', window );">Star Jennifer</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,209<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">April 15, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarHelenaMember', window );">Star Helena</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,187<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MercurialVirgoIMember', window );">Mercurial Virgo</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">81,545<span></span>
</td>
<td class="nump">81,545<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2013<span></span>
</td>
<td class="text">2011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MagnumOpusMember', window );">Magnum Opus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">81,022<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_TsuEbisuMember', window );">Tsu Ebisu</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">81,001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarIrisMember', window );">Star Iris</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">76,466<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 8, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAlineMember', window );">Star Aline</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">76,429<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 4, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEmilyMember', window );">Star Emily</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">76,417<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">September 16, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNatalieMember', window );">Star Natalie</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">73,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">1998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">August 29, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNicoleMember', window );">Star Nicole</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">73,751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">1997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 14, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVanessaMember', window );">Star Vanessa</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">72,493<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">1999<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">November 7, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarClaudiaMember', window );">Star Claudia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">71,662<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">1997<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 20, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeMember', window );">Idee Fixe</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,458<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">March 25, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember', window );">Roberta</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,426<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">March 31, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember', window );">Laura</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,399<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">April 7, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KaleyMember', window );">Kaley</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">63,283<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">June 26, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChallengerMember', window );">Star Challenger</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,462<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2012<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 12, 2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarFighterMember', window );">Star Fighter</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,455<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 30, 2013<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerMember', window );">Honey Badger</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">February 27, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_WolverineMember', window );">Wolverine</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">61,297<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">February 27, 2015<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MaidenVoyageIMember', window );">Maiden Voyage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">58,722<span></span>
</td>
<td class="nump">58,722<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2012<span></span>
</td>
<td class="text">2012<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StrangeAttractorIMember', window );">Strange Attractor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">55,742<span></span>
</td>
<td class="nump">55,742<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">2006<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 11, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarOmicronMember', window );">Star Omicron</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">53,489<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">April 17, 2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGammaMember', window );">Star Gamma (ex C Duckling)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">53,098<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2002<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 4, 2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarZetaMember', window );">Star Zeta (ex I Duckling)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">52,994<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 2, 2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarDeltaMember', window );">Star Delta (ex F Duckling)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">52,434<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">January 2, 2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarThetaMember', window );">Star Theta (ex J Duckling)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">52,425<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2003<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 6, 2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEpsilonMember', window );">Star Epsilon (ex G Duckling)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">52,402<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 3, 2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarCosmoMember', window );">Star Cosmo</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">52,246<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2005<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">July 1, 2008<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKappaMember', window );">Star Kappa (ex E Duckling)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">52,055<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2001<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">December 14, 2007<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMicheleMember', window );">Star Michele</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessel</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">45,588<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">1998<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DeliveryDateVessel', window );">Date Delivered to Star Bulk</a></td>
<td class="text">October 14, 2014<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DeliveryDateVessel">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The date of the vessel delivery to the Company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DeliveryDateVessel</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselYearBuilt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The year that the vessel was built.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselYearBuilt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GargantuaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_GargantuaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DeepBlueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_DeepBlueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LeviathanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LeviathanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PeloreusMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PeloreusMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IndomitableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IndomitableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ObelixIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ObelixIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_SandraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_SandraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ChristineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ChristineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarBorealisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPolarisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarPolarisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngieMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngieMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAuroraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAuroraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LowlandsBeilunMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LowlandsBeilunMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEleonoraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEleonoraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMorishaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMorishaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSirius2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVega2Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngelinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAngelinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGwynethMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGwynethMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKamilaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKamilaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PendulumIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PendulumIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarkelaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMarkelaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarDanaiMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarDanaiMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGeorgiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarGeorgiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSophiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarSophiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariellaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMariellaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMoiraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarMoiraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNinaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarReneeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarReneeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNasiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNasiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLauraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarLauraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJenniferMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarJenniferMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarHelenaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarHelenaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MercurialVirgoIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MercurialVirgoIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MagnumOpusMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MagnumOpusMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_TsuEbisuMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_TsuEbisuMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarIrisMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarIrisMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAlineMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarAlineMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEmilyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEmilyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNatalieMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNatalieMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNicoleMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarNicoleMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVanessaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarVanessaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarClaudiaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarClaudiaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_IdeeFixeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RobertaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_LauraMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KaleyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KaleyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChallengerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarChallengerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarFighterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarFighterMember</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HoneyBadgerMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_WolverineMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarThetaMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarEpsilonMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarCosmoMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StarKappaMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711859797792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Basis of Presentation and General Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionProFormaInformationTextBlock', window );">Business Acquisition Pro Forma Information</a></td>
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<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, 2014</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma revenues&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;73,448</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma operating loss&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(4,637</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma net loss&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(12,270</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
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  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:521px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pro forma loss per share, basic and diluted&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:116px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(0.15)</font></div></td>
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<div></div><span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ListOfSubsidiariesTableTextBlock', window );">List of Subsidiaries</a></td>
<td class="text"><div style="text-align:right;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:193px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:146px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:63px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:91px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Delivered to Star Bulk</b></font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Pearl Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Gargantua (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,529</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 2, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;L.A. Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Deep Blue (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,608</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">May 27, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Ocean Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Leviathan (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,511</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Horizon Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Peloreus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,496</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;22, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Positive Shipping Company</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Indomitable (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,476</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 8, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;OOCAPE1 Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Obelix (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">181,433</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sandra Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Pauline (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2008</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Christine Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Christine (tbr Star Martha) (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,274</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2010</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Pacific Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pantagruel (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,181</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Borealis LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Borealis</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,678</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;9, 2011</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Polaris LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Polaris</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">179,600</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;14, 2011</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident V LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angie (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,931</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sky Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Fish (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">177,643</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Global Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kymopolia (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">176,990</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sea Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Big Bang (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">174,109</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Aurora LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aurora</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">171,199</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2010</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Lowlands Beilun Shipco LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Despoina (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">170,162</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident VII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Eleonora (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 3, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident VI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Monisha (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">164,218</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 2, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Nautical Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Amami (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Majestic Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Madredeus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Sirius LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sirius</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;7, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Vega LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vega</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">98,681</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;13, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Alta II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Angelina (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,981</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Alta I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gwyneth (3)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,790</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 5, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">26 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Kamila </i>(2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,769</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;3, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">27 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Grain Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Pendulum (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,619</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">28 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XIX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Maria (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,598</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 5, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">29 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Markella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,594</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">30 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident IX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Danai (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,574</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 21, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">31 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Georgia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,298</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">32 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident VIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Sophia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,269</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 31, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">33 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XVI LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Mariella (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,266</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;19, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">34 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XIV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Moira (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,257</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 19, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">35 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XVIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nina (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,224</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 5, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">36 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident X LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Renee (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,221</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 18, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">37 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nasia &#160;(2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,220</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">38 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XIII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Laura (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 8, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">39 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Jennifer (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,209</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 15, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">40 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XVII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Helena (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">82,187</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December 29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">41 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Mineral Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Mercurial Virgo (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,545</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">42 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;KMSRX Holdings LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Magnum Opus (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,022</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">43 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Dioriga Shipping Co.</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Tsu Ebisu (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">81,001</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2014</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">44 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident&#160;III LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Iris (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,466</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;8, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">45 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident IV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Aline (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,429</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;4, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">46 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Emily (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">76,417</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;16, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">47 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXII LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Natalie &#160;(2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">73,798</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;29, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1998</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">48 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXIII LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Nicole (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">73,751</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 14, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1997</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">49 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXV LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Vanessa (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">72,493</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November 7, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">50 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXVI LLC </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Claudia (2)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">71,662</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 20, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1997</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">51 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Spring Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Idee Fixe (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,458</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 25, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Orion Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Roberta (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,426</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 31, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Success Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Laura (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,399</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 7, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">54 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Ultra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Kaley (1)(4)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63,283</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">June 26, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Challenger&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Challenger</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,462</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;12, 2013</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">56 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Challenger&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Fighter</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,455</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;30, 2013</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2013</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">57 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Aurelia Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Honey Badger (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,297</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">58 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Rainbow Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Wolverine (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,297</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 27, 2015</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">59 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Premier Voyage LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Maiden Voyage (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">58,722</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Glory Supra Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Strange Attractor (1)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">55,742</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;11, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Omicron LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Omicron</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,489</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April&#160;17, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">62 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Gamma LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Gamma</i> (ex <i>C Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">53,098</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;4, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2002</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">63 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Zeta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Zeta</i> (ex&#160;I <i>Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,994</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Delta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Delta </i>(ex <i>F Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,434</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January&#160;2, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">65 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Theta LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Theta</i> (ex <i>J Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,425</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;6, 2007</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2003</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">66 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Epsilon LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Epsilon</i> (ex <i>G Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,402</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;3, 2007</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">67 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Cosmo LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Cosmo</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,246</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;1, 2008</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2005</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">68 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Kappa LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Kappa</i> (ex <i>E Duckling</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">52,055</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">December&#160;14, 2007</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:22px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">69 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:193px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Trident XXX LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:146px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Star Michele </i>(2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:63px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">45,588</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 14, 2014</font></div></td>
    <td valign="middle" colspan="2" style=" border:solid #000000 0.0px;width:137px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1998</font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:4.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels acquired pursuant to the Merger and the Pappas Transaction</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;Vessels acquired pursuant to the Excel Transactions</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3) &#160;&#160;Vessels acquired from Heron</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(4)&#160;&#160;&#160;&#160;&#160;&#160;Vessels subject to a capital bareboat lease (Note 5)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ListNewbuildingsTableTextBlock', window );">List of Newbuildings</a></td>
<td class="text"><div style="text-align:center;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Newbuildings Name</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Type</b></font></div></td>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Expected Delivery</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Date</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">1 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Sea Diamond Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 167 <i>(</i>tbn<i> Goliath) </i>(Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">2 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Coral Cape Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 184 <i>(</i>tbn<i> Maharaj) </i>(Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">3 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Ennea LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 198 (tbn <i>Star Poseidon</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">209,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">4 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Clearwater Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1359 (tbn <i>Star Marisa</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">5 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Seeker LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1372 (tbn <i>Star Libra</i>) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">6 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Domus Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1360 (tbn <i>Star Ariadne</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">7 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Castle&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1342 (tbn <i>Star Gemini</i>) (1)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">8 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Breezer LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1371 (tbn <i>Star Virgo</i>) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">9 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Festive Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1361 (tbn <i>Star Magnanimus</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">May&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">10 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Castle&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1343 (tbn <i>Star Leo</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">11 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;White Sand Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1363 (tbn <i>Star Chaucer</i>) (1) (2)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Newcastlemax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">208,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">12 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Confidence Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5055 <i>(</i>tbn<i> Behemoth)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">13 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Cape Runner Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5056 <i>(</i>tbn<i> Megalodon)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">182,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">14 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Olympia Shiptrade LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1312 <i>(</i>tbn<i> Bruno Marks)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">September&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">15 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Victory Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1313 <i>(</i>tbn<i> Jenmark)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">16 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Cape&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1338 (tbn <i>Star Aries</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">November&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">17 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Cape&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1339 (tbn <i>Star Taurus</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Capesize</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">180,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March&#160;2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">18 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Blooming Navigation LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1080 <i>(</i>tbn<i> Kennadi)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">19 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Jasmine Shipping LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1081 <i>(</i>tbn<i> Mackenzie)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">February 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">20 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Oday Marine LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1082 <i>(</i>tbn<i> Night Owl)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">March 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">21 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Searay Maritime LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 1083 <i>(</i>tbn<i> Early Bird)</i></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">64,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">April 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">22 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Axe&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 196 (tbn <i>Star Antares</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">October 2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">23 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Axe&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN NE 197 (tbn <i>Star Lutas</i>)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">61,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">January 2016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">24 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Asia&#160;I LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5040 (tbn <i>Star Aquarius</i>) (Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">July&#160;2015</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:23px;height:11px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">25 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:180px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;&#160;Star Asia&#160;II LLC</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:218px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">HN 5043 (tbn <i>Star Pisces</i>) (Note 15)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Ultramax</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:52px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">60,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:88px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">August&#160;2015</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Vessels acquired pursuant to the Merger and the Pappas Transaction</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;Subject to a capital bareboat lease (Note 6)</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ListNonVesselOwningSubsidiaries', window );">List of Non-vessel owning subsidiaries</a></td>
<td class="text"><div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Wholly Owned Subsidiaries</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Management Inc.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Starbulk S.A.</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk Manning LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Omas LLC (1) </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Synergy LLC (1)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Shipping LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Oceanbulk Carriers LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">International Holdings LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Unity Holding LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Bulk (USA) LLC</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXI LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIV LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVII LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXXI LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXIX LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Trident XXVIII LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Lamda LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Alpha LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Beta LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Ypsilon LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Mega LLC (2)</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:135px;height:11px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Star Big LLC (2)</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;Entities established to merge with the holding companies of Oceanbulk</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;Owning companies of vessels which were sold that currently have no operations</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock', window );">List of vessels under commercial and technical management by Starbulk S.A.</a></td>
<td class="text"><div style="text-align:center;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Owning Company</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel Name</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>DWT</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Effective Date</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>of Management</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Agreement</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Year Built</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Global Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Kymopolia</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">176,990</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">January&#160;30, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">OOCAPE1 Holdings LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Obelix</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">181,433</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October&#160;19, 2012</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pacific Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Pantagruel</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">180,181</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October&#160;24, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sea Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Big Bang</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">174,109</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August&#160;30, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2007</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sky Cape Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Big Fish</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">177,662</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">October&#160;18, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2004</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Majestic Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Madredeus</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">98,681</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;4, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Nautical Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Amami</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">98,681</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;4, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Grain Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Pendulum</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">82,619</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;17, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Mineral Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Mercurial Virgo</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">81,545</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">February&#160;17, 2014</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2011</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Adore Shipping Corp.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Renascentia (2)</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,732</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 20, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1999</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Hamon Shipping Inc</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Marto</i> (3)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,470</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">August&#160;2, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2001</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Glory Supra Shipping LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Strange Attractor</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">55,742</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September&#160;24, 2013</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Premier Voyage LLC (1)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Maiden Voyage</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58,722</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">September&#160;28, 2012</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2012</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:196px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Serenity Maritime Inc.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:128px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Serenity I</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:101px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">53,688</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:131px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June&#160;11, 2011</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:80px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2006</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1)&#160;&#160;&#160;&#160;&#160;&#160;The respective companies were related parties, please refer to Note 3, which became wholly owned subsidiaries following the completion of the Merger on July&#160;11, 2014, when the respective management agreements were terminated.</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:6.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(2)&#160;&#160;&#160;&#160;&#160;&#160;On June 20, 2014, this vessel was sold and the management agreement between Starbulk S.A. and the previous owners was terminated. The Company received management fees for a period of two months following the termination date, in accordance with the terms of the management agreement</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3)&#160;&#160;&#160;&#160;&#160;&#160;On July&#160;3, 2014, the Company received a notice of termination of the management agreement for the vessel <i>Marto</i>, one of the third-party owned vessels under the Company's management. &#160;The management agreement was terminated upon the vessel's delivery to its new managers, on August&#160;20, 2014. &#160;The Company was entitled to receive management fees for a period of three months following the termination date, in accordance with the terms of the management agreement.</font></div>
<div style="text-align:justify;margin-left: 24.0px;margin-bottom:12.0px;text-indent:-24.0px;"></div><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the entity's newbuildings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ListNewbuildingsTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the entity's non-vessel owning subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ListNonVesselOwningSubsidiaries</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the entity's subsidiaries.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ListOfSubsidiariesTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of vessels under commercial and technical management.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ListVesselsUnderCommercialTechnicalManagementTableTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionProFormaInformationTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(2)-(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25497992&amp;loc=d3e1392-128463<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionProFormaInformationTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711849889808">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies - Contractual Obligations (Table) (Details)<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueInNextTwelveMonths', window );">2016</a></td>
<td class="nump">$ 30,186<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueInSecondYear', window );">2017</a></td>
<td class="num">(26,717)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueInThirdYear', window );">2018</a></td>
<td class="num">(27,219)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueInFourthYear', window );">2019</a></td>
<td class="num">(27,151)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueInFifthYear', window );">2020</a></td>
<td class="num">(27,488)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligationDueAfterFifthYear', window );">2021 and thereafter</a></td>
<td class="num">(252,070)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractualObligation', window );">Total</a></td>
<td class="num">(330,459)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNonCancellableCharterRevenueMember', window );">Future, minimum, non-cancellable charter revenue (1)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent', window );">2016</a></td>
<td class="nump">47,258<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears', window );">2017</a></td>
<td class="nump">750<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears', window );">2018</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears', window );">2019</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears', window );">2020</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter', window );">2021 and thereafter</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable', window );">Total</a></td>
<td class="nump">48,008<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsAxis=sblk_BareboatCapitalLeasesMember', window );">Bareboat capital leases - upfront hire &amp; handling fees (2)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">2016</a></td>
<td class="num">(12,269)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo', window );">2017</a></td>
<td class="num">(1,344)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree', window );">2018</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour', window );">2019</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive', window );">2020</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">2021 and thereafter</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue', window );">Total capital lease minimum payments</a></td>
<td class="num">(13,613)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsAxis=sblk_BareboatCommitmentsCharterHireMember', window );">Bareboat commitments charter hire (3)</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherCommitmentsLineItems', window );"><strong>Lease commitments</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">2016</a></td>
<td class="num">(4,803)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo', window );">2017</a></td>
<td class="num">(26,123)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree', window );">2018</a></td>
<td class="num">(27,219)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour', window );">2019</a></td>
<td class="num">(27,151)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive', window );">2020</a></td>
<td class="num">(27,488)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">2021 and thereafter</a></td>
<td class="num">(252,070)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue', window );">Total capital lease minimum payments</a></td>
<td class="num">$ (364,854)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the third rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation, including but not limited to, long-term debt, capital lease obligations, operating lease obligations, purchase obligations, and other commitments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueAfterFifthYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation maturing after the fifth fiscal year following the latest fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligationDueAfterFifthYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueInFifthYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation maturing in the fifth fiscal year following the latest fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligationDueInFifthYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueInFourthYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation maturing in the fourth fiscal year following the latest fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligationDueInFourthYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueInNextTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation maturing in the next fiscal year following the latest fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligationDueInNextTwelveMonths</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueInSecondYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation maturing in the second fiscal year following the latest fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligationDueInSecondYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractualObligationDueInThirdYear">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of contractual obligation maturing in the third fiscal year following the latest fiscal year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractualObligationDueInThirdYear</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future minimum rental payments in aggregate as of the balance sheet date under operating leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future rental payments receivable within one year of the balance sheet date under an operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future rental payments receivable within the fifth year from the balance sheet date under an operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future rental payments receivable within the fourth year from the balance sheet date under an operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future rental payments receivable within the third year from the balance sheet date under an operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future rental payments receivable within the second year from the balance sheet date under an operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6454179&amp;loc=d3e41551-112718<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNonCancellableCharterRevenueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsAxis=sblk_FutureMinimumNonCancellableCharterRevenueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=sblk_BareboatCapitalLeasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherCommitmentsAxis=sblk_BareboatCapitalLeasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherCommitmentsAxis=sblk_BareboatCommitmentsCharterHireMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Stockholders' Equity (Parentheticals)<br></strong></div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
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<tr class="rh">
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of voting equity interests acquired at the acquisition date in the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 805<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25497992&amp;loc=d3e1392-128463<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852824352">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Consolidated Balance Sheets (unaudited) (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">300,000,000<span></span>
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<td class="nump">300,000,000<span></span>
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<td class="nump">218,934,541<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840621104">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Preferred and Common Shares and Additional Paid in Capital<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Preferred and Common Shares and Additional Paid in Capital [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Preferred and Common Shares and Additional Paid in Capital:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>9.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Preferred and Common Shares and Additional Paid in Capital:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's Preferred and Common Shares are discussed in Note 10 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, filed with the SEC on April&#160;8, 2015.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2014, 22,598 common shares were issued, as part of the consideration for the acquisition of 33% of the total outstanding common stock of Interchart.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2014, the Company issued 394,167 common shares under its 2014 Equity Incentive Plan, 8,000 common shares, which were granted to certain directors of the Company and 9,333 common shares to the Company's former Chief Executive Officer, representing the first installment of his minimum guaranteed incentive award in accordance with his consultancy agreement.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In August&#160;2014, the Company agreed to issue the Excel Vessel Share Consideration of 29,917,312 common shares under the terms of the Excel Transactions. During the six month period ended June 30, 2015, the Company issued 4,257,887 common shares as part of the Excel Vessel Share Consideration following the deliveries of the last six Excel Vessels (Note 1).</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Equity offerings </b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On January 14, 2015, the Company completed a primary underwritten public offering of 49,000,418 of its common shares, at a price of $5.00 per share. The aggregate proceeds to the Company, net of underwriters commissions and offering expenses, were &#160;$242,211.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May 18, 2015, the Company completed a primary underwritten public offering of 56,250,000 common shares, at a price of $3.20 per share. The aggregate proceeds to the Company, net of underwriters commissions and offering expenses, were $175,586. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph (SAB TOPIC 4.C)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Preferred Stock<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph d<br><br><br><br> -Article 4<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Article 4<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section C<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711833760224">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document And Entity Information - Jun. 30, 2015 - shares<br></strong></div></th>
<th class="th"><div>Total</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_DocumentAndEntityInformationAbstract', window );"><strong>Document And Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">6-K<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jun. 30,  2015<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Enity Registrant Name</a></td>
<td class="text">Star Bulk Carriers Corp.<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001386716<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Accelerated Filer<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well Known Seasoned Issuer</a></td>
<td class="text">No<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock Shares Outstanding</a></td>
<td class="nump">218,934,541<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
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<td class="text">Q2<span></span>
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<td class="text">SBLK<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation 12B<br><br><br><br> -Number 240<br><br><br><br> -Section 12b<br><br><br><br> -Subsection 1<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation 12B<br><br><br><br> -Number 240<br><br><br><br> -Section 12b<br><br><br><br> -Subsection 1<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867794800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FeesAndCommissionsAbstract', window );"><strong>Fees and Commissions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ManagementFeesTextBlock', window );">Management fees</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>10.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Management fees</b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;As of January 1, 2015, the Company engaged Ship Procurement Services S.A. (&#147;SPS&#148;), an unaffiliated third party company, to provide to its fleet certain procurement services at a daily fee of $0.295 per vessel. Total management fees to SPS for the six month period ended June 30, 2015, were $3,748 and are included in Management fees in the accompanying unaudited interim condensed statement of operations. In addition, Management fees for the six month period ended June 30, 2015 also include $315 of fees incurred pursuant to the management agreement with Maryville discussed in Note 3. </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ManagementFeesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for management fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ManagementFeesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FeesAndCommissionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FeesAndCommissionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840309952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Operations - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VoyageRevenues', window );">Voyage revenues</a></td>
<td class="nump">$ 101,182<span></span>
</td>
<td class="nump">$ 43,064<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesBaseRevenue', window );">Management fee income (Note 3)</a></td>
<td class="nump">136<span></span>
</td>
<td class="nump">1,861<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenues</a></td>
<td class="nump">101,318<span></span>
</td>
<td class="nump">44,925<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VoyageExpenses', window );">Voyage expenses</a></td>
<td class="nump">30,637<span></span>
</td>
<td class="nump">7,721<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingCostsAndExpenses', window );">Vessel operating expenses</a></td>
<td class="nump">56,964<span></span>
</td>
<td class="nump">16,062<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfPropertyRepairsAndMaintenance', window );">Dry docking expenses</a></td>
<td class="nump">6,945<span></span>
</td>
<td class="nump">1,264<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Depreciation', window );">Depreciation</a></td>
<td class="nump">38,519<span></span>
</td>
<td class="nump">9,777<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees (Note 3 and Note 10 )</a></td>
<td class="nump">4,063<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative expenses</a></td>
<td class="nump">11,153<span></span>
</td>
<td class="nump">10,215<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetImpairmentCharges', window );">Vessel impairment loss (Note 5 and Note 6)</a></td>
<td class="nump">28,829<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnContractTermination', window );">Loss on time charter agreement termination (Note 7)</a></td>
<td class="nump">2,114<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherExpenses', window );">Other operational loss</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">94<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncome', window );">Other operational gain</a></td>
<td class="num">(590)<span></span>
</td>
<td class="num">(407)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Bad debt expense</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">215<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Loss on sale of vessel (Note 5)</a></td>
<td class="nump">13,389<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total Operating Expenses</a></td>
<td class="nump">192,023<span></span>
</td>
<td class="nump">44,941<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Operating income / (loss)</a></td>
<td class="num">(90,705)<span></span>
</td>
<td class="num">(16)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other Income/ (Expenses):</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndDebtExpense', window );">Interest and finance costs (Note 8)</a></td>
<td class="num">(13,871)<span></span>
</td>
<td class="num">(3,057)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndOtherIncome', window );">Interest and other income/(loss)</a></td>
<td class="nump">828<span></span>
</td>
<td class="nump">21<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax', window );">Gain / (Loss) on derivative financial instrument, net (Note 14)</a></td>
<td class="num">(688)<span></span>
</td>
<td class="num">(819)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on debt extinguishment (Note 8)</a></td>
<td class="num">(974)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total other expenses, net</a></td>
<td class="num">(14,705)<span></span>
</td>
<td class="num">(3,855)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">INCOME/(LOSS) BEFORE EQUITY IN INCOME OF INVESTEE</a></td>
<td class="num">(105,410)<span></span>
</td>
<td class="num">(3,871)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity in income of investee</a></td>
<td class="nump">213<span></span>
</td>
<td class="nump">1<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (105,197)<span></span>
</td>
<td class="num">$ (3,870)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Earnings / (Loss) per share, basic and diluted (Note 11)</a></td>
<td class="num">$ (0.61)<span></span>
</td>
<td class="num">$ (0.13)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Weighted average number of shares outstanding, basic and diluted (Note 11)</a></td>
<td class="nump">171,736,658<span></span>
</td>
<td class="nump">28,973,621<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VoyageExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Costs relating to the voyages performed by the vessels and may include port, canal, bunker expenses, commissions and other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VoyageExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VoyageRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenues arising from services provided to charterers according to the terms and conditions included in charter agreements. Voyage revenues may include the amortization of above/below market acquired time charter.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VoyageRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=8077374&amp;loc=d3e2420-110228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfPropertyRepairsAndMaintenance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfPropertyRepairsAndMaintenance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnContractTermination">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (loss) related to the termination of a contract between the parties. The termination may be due to many causes including early termination of a lease by a lessee, a breach of contract by one party, or a failure to perform.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 420<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394359&amp;loc=d3e17939-110869<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnContractTermination</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5618551-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnDerivativeInstrumentsNetPretax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainLossOnSaleOfPropertyPlantEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12317-112629<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12355-112629<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 323<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.12)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 11<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDebtExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and debt related expenses associated with nonoperating financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDebtExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndOtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndOtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeesBaseRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Base revenue, as contractually stipulated, for operating and managing another entity's business during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeesBaseRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.7)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 7<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingCostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingCostsAndExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents a sum total of expenses not separately reflected on the income statement for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.7)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.4,6)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 7<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 19<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7656940&amp;loc=SL4569616-111683<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4K<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1A<br><br><br><br> -Subparagraph (a),(c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 810<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 4J<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.5)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 5<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840157088">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">Inventories:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>4.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Inventories:</b></font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 40.0px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lubricants</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,853</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,106</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bunkers</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,515</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,585</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,368</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>16,691</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:158px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"></div><span></span>
</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryDisclosureAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.6)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 6<br><br><br><br> -Subparagraph a, b, c<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryDisclosureTextBlock</td>
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<td>nonnum:textBlockItemType</td>
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<td>duration</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712008450192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Transactions with Related Parties<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Transactions with Related Parties [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Transactions with Related Parties:</a></td>
<td class="text"><div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>3.&#160;&#160;&#160;&#160;&#160;&#160;Transactions with Related Parties:</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;text-indent:56.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's transactions with related parties are discussed in Note 3 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F. In addition to those transactions, three of the Excel Vessels (Christine (tbr Star Martha), Star Pauline and Star Despoina), which were acquired with attached time charters, are managed by Maryville Maritime Inc. (&#147;Maryville&#148;), a subsidiary of Excel. &#160;Maryville is managing these three vessels until the expiration of their existing time charter agreements (two of which expired in August 2015 and one which expires in October 2015) at a monthly fee of $17.5 per vessel.</font></div>
<div style="text-align:justify;text-indent:56.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Transactions and balances with related parties are analyzed as follows:</font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Balance Sheet</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:24px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,<br/> 2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30,<br/>2015</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Assets</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Oceanbulk Maritime S.A. and its affiliates</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">241</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">667</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Product Shipping &amp; Trading S.A.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">4</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">4</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total Assets</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">245</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">671</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Liabilities</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Interchart Shipping Inc. </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">6</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Combine Marine Ltd.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">9</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Management and Directors Fees</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">462</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">314</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Managed Vessels of Oceanbulk Shipping LLC</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">9</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">7</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Oceanbulk Sellers (Note 13) </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,689</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">50</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Maryville Maritime Inc.</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">514</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total Liabilities</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">2,166</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">900</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Excel Vessel Bridge Facility outstanding balance</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:24px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31,<br/>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30, <br/>2015</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Excel Vessel Bridge Facility -&#160;current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">8,168</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Excel Vessel Bridge Facility -&#160;non- current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">47,993</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Total Excel Vessel Bridge Facility </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>56,161</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>-</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>&#160;Capitalized Expenses</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>December 31, <br/>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>June 30, <br/>2015</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; "><b>Advances for vessels under construction and acquisition of vessels </b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <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:64px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">Oceanbulk Maritime S.A.- commission fee for newbuilding vessels</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,038</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:20px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:64px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">1,557</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:357px;height:12px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:16px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:22px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:106px;"><div style="text-indent:0.0px;">&#160;</div></td>
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<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph b<br><br><br><br> -Article 3A<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Article 4<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712008471488">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15.&#160;&#160;&#160;&#160;&#160;&#160;Subsequent Events:</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 60.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>a) Negotiated vessel delivery delays</b></font></div>
<div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company has recently reached an agreement in principle with certain shipyards to further defer the delivery of certain of its newbuilding vessels for periods ranging from one to five months. These agreements are subject to execution of final documentation by both parties. </font></div>
<div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>b) Agreement to reduce the purchase price of certain newbuilding vessels </b></font></div>
<div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In July 2015, the Company has reached an agreement in principle with certain shipyards to reduce the purchase price of certain of its newbuilding vessels. The aggregate reduction agreed was $25,828 and will be set off against the remaining newbuilding payments. These agreements are subject to execution of final documentation by both parties.</font></div>
<div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>c) Sale of </b><i><b>Star Natalie</b></i><b> and </b><i><b>Star Claudia</b></i></font></div>
<div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August 6, 2015 and August 10, 2015 the Company entered into separate agreements with third parties to sell the vessels <i>Star Natalie</i> and <i>Star Claudia</i>, respectively, at market terms. The vessels were delivered to their new owners on August 26, 2015, and September 2, 2015, respectively.</font></div>
<div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>d) Sale of </b><i><b>Maiden Voyage</b></i><b> and agreement to charter back the vessel for two years</b></font></div>
<div style="text-align:justify;margin-left: 37.8px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel <i>Maiden Voyage</i>, at market terms. The Company has agreed to charter back the vessel for a period of two years. The vessel was delivered to its new owners on September 15, 2015, and the Company became the charterer of the vessel on the same date (please see Note 5).</font></div>
<div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>e) Vessel deliveries</b></font></div>
<div style="text-align:justify;margin-left: 64.3px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i) On July 15, 2015, the Company took delivery of the Newcastlemax vessels <i>Goliath</i> (ex HN 167) and <i>Maharaj </i>(ex HN 184). The delivery instalments of $75, 364 million were partially financed by $60,600 drawn down under the DNB-SEB-CEXIM $227,500 Facility, and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;margin-left: 64.3px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii) On July 22, 2015, the Company took delivery of the Ultramax vessel <i>Star Aquarius</i> (ex HN 5040). The delivery instalment of $20,359 was partially financed by $15,237 million drawn under the NIBC $32,000 Facility and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;margin-left: 64.3px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iii) On August 7, 2015, the Company took delivery of the Ultramax vessel <i>Star Pisces</i> (ex HN 5043). The delivery instalment of $20,351 was partially financed by $15,237 million drawn under the NIBC $32,000 Facility, and the remaining amount was financed by using existing cash.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 60.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>f) Financing of HN 1343 (tbn </b><i><b>Star Leo</b></i><b>)</b></font></div>
<div style="text-align:justify;margin-left: 42.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On August 31, 2015, the Company entered into a 10-year lease arrangement with CSSC to finance up to $40,000 for the delivery installment of the HN 1343 (tbn <i>Star Leo</i>).</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867830928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / Loss per Share<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Earnings / Loss per Share:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>11.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Earnings / Loss per Share:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">All shares issued (including the restricted shares issued under the Company's equity incentive plans) are the Company's common shares and have equal rights to vote and participate in dividends. The restricted shares issued under the Company's equity incentive plans are subject to forfeiture provisions set forth in the applicable award agreements. The calculation of basic earnings per share does not consider the non-vested shares as outstanding until the time-based vesting restriction has lapsed.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company calculates basic and diluted earnings / loss per share as follows:</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:241px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended June 30, </b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <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:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Net &#160;income / (loss)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(3,870</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(105,197</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Basic &#160;earnings/ &#160;(loss) per share:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, basic</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,973,621 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">171,736,658 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Basic earnings &#160;(loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.13)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.61)</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Effect of dilutive securities:</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Dilutive effect of non-vested shares</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Weighted average common shares outstanding, diluted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,973,621 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">171,736,658 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:303px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Diluted &#160;earnings / (loss) per share</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:115px;"><div style="text-indent:133.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:19px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:81px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.13)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:37px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:16px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:86px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(0.61)</b></font></div></td>
  </tr>
  <tr>
    <td style="width:303px;"></td>
    <td style="width:115px;"></td>
    <td style="width:19px;"></td>
    <td style="width:81px;"></td>
    <td style="width:37px;"></td>
    <td style="width:16px;"></td>
    <td style="width:86px;"></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">For the six month periods ended June 30, 2014 and 2015, and on the basis that the Company incurred a net loss, the effect of 412,834 and 676,150, respectively, non-vested shares, as well as the effect of 521,250 non-vested share options as of June 30, 2015, would be anti-dilutive; therefore &#147;Basic earnings / (loss) per share&#148; equals &#147;Diluted earnings &#160;/ (loss) per share&#148;.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 52<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867962464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value of Above-Market Acquired Time Charters<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_FairValueAboveMarketAcquiredTimeChartersTextBlock', window );">Fair Value of Above-Market Acquired Time Charters:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>7.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Fair value of Above Market Acquired Time Charters:</b></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amortization of fair value of above market acquired time charters for the six months ended June 30, 2014 and 2015 was $3,149 and $7,071, respectively. &#160;It relates to (i)&#160;the vessels <i>Star Big</i> and <i>Star Mega</i>, which were acquired in 2011, (ii)&#160;the vessels <i>Amami</i> and <i>Medredeus</i>, which were acquired as part of the Merger with time charters attached, and (iii) three Excel Vessels (<i>Christine (tbr Star Martha), Star Pauline and Star Despoina</i>), which were acquired as part of the Excel Transactions each with a time charter.&#160;Such amortization is included under &#147;Voyage revenues&#148; in the accompanying unaudited interim condensed consolidated statements of operations. The accumulated amortization of these above market time charters as of December 31, 2014 and June 30, 2015 was $21,200 and $28,271, respectively. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The estimated aggregate amortization expense of the above market acquired time charters until their expiration is analyzed as follows:</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
<div style="text-indent:0.0px;"></div>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:112px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:112px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">2,723</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:341px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:57px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:38px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:112px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,723</b></font></div></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As described in Note 5 above, in the second quarter of 2015, the Company entered into an agreement with a third party to sell the vessel <i>Star Big</i>. In view of its planned sale, its above market acquired time charter was early terminated, and the unamortized balance relating to this vessel of $2,114 at June 30, 2015 was written-off and reflected under &#147;Loss on time charter agreement termination&#148; in the accompanying unaudited interim condensed statement of operations for the six month period ended June 30, 2015. </font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the asset or liability arising from the market value of the time charter assumed from a vessel acquisition or redelivery upon a time charter agreement termination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711860215296">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jun. 30, 2014 </div>
<div>USD ($)</div>
</th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtWeightedAverageInterestRate', window );">Weighted average interest rate</a></td>
<td class="nump">3.30%<span></span>
</td>
<td class="nump">3.33%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Write off of unamortized deferred financing fees</a></td>
<td class="nump">$ 974<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Loan reference interest rate</a></td>
<td class="text">LIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=sblk_CollateralPledgedMember', window );">First-priority mortgage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselNet', window );">Vessel Net</a></td>
<td class="nump">$ 1,528,386<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NumberOfVessels', window );">Number of vessels</a></td>
<td class="nump">56<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember', window );">Excel Vessel Bridge Facility, Excel Vessel CiT Facility, ABN AMRO $31,000 Facility and Commerzbank 26,000 Facility</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Long-term debt [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Write off of unamortized deferred financing fees</a></td>
<td class="nump">$ 974<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NumberOfVessels</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of the vessel.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentDescriptionOfVariableRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12317-112629<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6850294&amp;loc=d3e12355-112629<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtWeightedAverageInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average interest rate of long-term debt outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtWeightedAverageInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=sblk_CollateralPledgedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=sblk_CollateralPledgedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityAxis=sblk_ExcelVesselBridgeFacilityAndExcelVesselCiTFacilityAndABNAMRO31000FacilityAndCommerzbank26000FacilityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712008408480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels and Other Fixed Assets, Net<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Vessels and Other Fixed Assets, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Vessels and Other Fixed Assets, Net:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>5. &#160;&#160;&#160;&#160;&#160;&#160;Vessels and Other Fixed Assets, Net:</b></font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The amounts in the accompanying consolidated balance sheets are analyzed as follows:</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 40.0px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:27px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cost</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,541,538</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,857,658</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fair value adjustment </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">100,065</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">151,588</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other fixed assets</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,683</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,701</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Impairment charge</font></div></td>
    <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:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(8,282</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total cost</b></font></div></td>
    <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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,643,286</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,002,665</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated depreciation</font></div></td>
    <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:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(201,435</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(230,001</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessels and other fixed assets, net</b></font></div></td>
    <td valign="middle" 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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,441,851</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,772,664</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of June 30, 2015 the Company performed an impairment review for its fleet, since certain factors indicated that the carrying amount of its vessels might not be recoverable. Such review did not result in any impairment to the value of the Company's vessels, except for the value of certain vessels that the Company agreed to sell, which vessels were subject to an impairment charge as discussed below.</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed during the six month period ended June 30, 2014</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On January 24, 2014, the Company entered into two agreements to acquire from Glocal Maritime Ltd, or &#147;Glocal&#148;, an unaffiliated third party, two 98,681 dwt Post-Panamax vessels, <i>Star Vega</i> and <i>Star Sirius</i>, built 2011, for an aggregate purchase price of $60,000. The vessels <i>Star Vega</i> and <i>Star Sirius</i>, were delivered to the Company on February&#160;13, 2014 and March&#160;7, 2014, respectively. The vessels, upon their delivery, were chartered back to Glocal for a daily rate of $15 less brokerage commission of 1.25% until at least June&#160;2016.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">No vessel disposals took place in the six month period ended June&#160;30, 2014.</font></div>
<div style="text-align:justify;margin-top:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:16.0px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Vessels acquired / disposed during the six month period ended June 30, 2015</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Delivery of newbuilding vessels:</i></font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(i) On January 8, 2015, the Company took delivery of the vessel <i>Indomitable</i> (ex-HN 5016), for which it had previously made a payment of $34,942 in December 2014. To partially finance the delivery installment of the <i>Indomitable</i>, the Company drew down $32,480 under the BNP $32,480 Facility.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(ii) On February 27, 2015, the Company took delivery of the vessels <i>Honey Badger</i> (ex-HN 164) and <i>Wolverine</i> (ex-HN 165), for which the Company paid delivery installments of $19,422 each. On March 13, 2015, the Company drew down $38,162 for the financing of both <i>Honey Badger</i> and <i>Wolverine</i> under the Sinosure Facility.</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iii) On March 25, March 31, April 7, and June 26, 2015, the Company took delivery of the Ultramax vessels <i>Idee Fixe</i> (ex-HN 1063), <i>Roberta</i> (ex-HN 1061), <i>Laura</i> (ex-HN 1062) and <i>Kaley</i> (ex-HN1064), respectively, which are all subject to separate bareboat charter agreements (which are accounted for as capital leases as discussed below) with Jiangsu Yangzijiang Shipbuilding Co. Ltd. (&#147;New Yangzijiang&#148;).</font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(iv) On April 2, 2015, the Company took delivery of the Newcastlemax vessel <i>Gargantua</i> (ex-HN 166). The delivery instalment of $37,682 was partially financed by $32,400 drawn under the DNB-SEB-CEXIM $227,500 Facility, while the remaining amount was financed through existing cash. </font></div>
<div style="text-align:justify;margin-left: 96.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(v) On May 27, 2015, the Company took delivery of the Capesize vessel <i>Deep Blue</i> (ex-HN 5017). The delivery installment of $34,982 was partially financed by $28,680 drawn under the DVB $31,000 Deep Blue Facility.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Acquisition of secondhand vessels</i>:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2015, the remaining six of the Excel Vessels (<i>Star Nina</i> (ex. <i>Iron Kalypso</i>), <i>Star Nicole</i> (ex. <i>Elinakos</i>), <i>Star Claudia</i> (ex. <i>Happyday</i>), <i>Star Monisha</i> (ex. <i>Iron Beauty</i>), <i>Rodon</i> and <i>Star Jennifer</i> (ex. <i>Ore Hansa</i>) were delivered to the Company in exchange for 4,257,887 common shares and $39,475 in cash, completing the acquisitions of 34 vessels from Excel as further discussed in Note 1 above.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Sale of vessels</i>:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On January&#160;20, January&#160;28, March&#160;6, and March&#160;19, 2015, the Company entered into separate agreements with third parties to sell four of the recently acquired Excel Vessels&#160;<i>Star Julia</i>,&#160;<i>Star Tatianna</i>,&#160;<i>Rodon&#160;</i>and&#160;<i>Star Monika</i>, respectively. The vessels were delivered to their new owners on February&#160;4, &#160;February&#160;9, March&#160;12 and April&#160;7, 2015, respectively. As of March 31, 2015, the vessel Star Monika met the criteria for classification as held for sale, and the Company recognized an impairment loss of $1,080. In addition, the vessel&#160;<i>Star Kim,</i>&#160;which was agreed to be sold in December 2014, was delivered to its new owners on January 21, 2015. In connection with the sale of the vessels&#160;<i>Star Julia</i>,<i>&#160;Star Tatianna, Star Monika&#160;</i>and&#160;<i>Star Kim,</i>&#160;the Company prepaid an amount of $18,181 under the Excel Vessel CiT Facility. </font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, on April 17, 2015, May 18, 2015 and June 5, 2015 the Company entered into separate agreements with third parties to sell the vessels <i>Star Big, Star Christianna</i> and <i>Star Mega</i>. The vessels were delivered to their new owners on June 4, 2015, June 23, 2015 and June 17, 2015, respectively.</font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In connection with the aforementioned sales the Company recognized a total net loss on sale of vessels of $13,389, which is separately reflected in the statement of operations for the six month period ended June 30, 2015.</font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May 28, 2015, the Company entered into an agreement with a third party to sell the vessel <i>Maiden Voyage</i>. As part of this transaction, the vessel will be leased back to the Company under a time charter for two years, and Star Bulk will guarantee all the liabilities and responsibilities of the vessel's shipowning entity (Premier Voyage LLC) under this charter. The lease back did not meet the lease classification test for a capital lease and will be accounted for as operating lease. In addition, the vessel did not meet the 'held-for-sale' classification criteria as of June 30, 2015, as it was not considered available for immediate sale in its present condition. In connection with this sale, an impairment charge of $8,282 was recorded, which includes a $4,411 write-off of the fair value adjustment recognized upon the Merger (Note 1). The vessel was delivered to its new owner in September 2015 (Note 15).</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>Capital leases</i>:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On May&#160;17, 2013, subsidiaries of Oceanbulk entered into separate bareboat charter party contracts with affiliates of New Yangzijiang shipyards for eight-year bareboat charters of four newbuilding 64,000 dwt Ultramax vessels being built at New Yangzijiang. &#160;The Company assumed these bareboat charters following the completion of the Merger. The vessels were constructed pursuant to four shipbuilding contracts entered into between four pairings of affiliates of New Yangzijiang. &#160;Each pair had one shipyard party (each, a &#147;New YJ Builder&#148;) and one ship-owning entity (each a &#147;New YJ Owner&#148;). &#160;Delivery of each vessel to the Company was deemed to occur upon delivery of the vessel to the New YJ Owner from the corresponding New YJ Builder. Pursuant to the terms of the bareboat charter, the Company was required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $20,680 for the construction cost of each vessel, corresponding to the delivery installment to the shipyard, as agreed to be financed by the relevant New YJ Owner, to whom the Company will pay a pre-agreed daily bareboat charter hire rate on a 30-days advance basis. &#160;After each vessel's delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices. &#160;On the eighth anniversary of the delivery of each vessel, the Company has the obligation to purchase the vessel at a purchase price of $6,000. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the four vessels. As further discussed above, the Company took delivery of these four vessels during the six month period ended June 30, 2015. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Based on applicable accounting guidance, the Company determined that the bareboat charters should be classified as capital leases. At the time of delivery, when the term of the lease was deemed to begin, the Company recorded a financial liability and a financial asset equal to the present value of the minimum lease payments in accordance with the applicable capital lease accounting guidance. The net book value of these vessels (which includes the upfront fees paid by the Company to the lessor during the construction period and the additional amounts paid by the Company to the lessor at the vessel's delivery in form of additional upfront fees, net of accumulated depreciation) recorded as of June 30, 2015 is reflected within &#147;Vessels and other fixed assets, net&#148; in the accompanying unaudited consolidated balance sheet. The charge resulting from amortization of these leased assets is included within &#147;depreciation expense&#148; in the accompanying unaudited statement of operations. &#160;The interest expense on the financial liability related to these capital leases as of June 30, 2015 was $872 and is included within &#147;Interest and finance costs&#148; in the accompanying unaudited statement of operations. As of June 30, 2015 the net book value of the vessels was $123,210, with accumulated amortization of $842. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The principal payments required to be made after June 30, 2015, for the outstanding capital lease obligations, are as follows:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 33.3px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,572</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12,370</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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:21px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58,016</font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total capital lease minimum payments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>105,878</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:16px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excluding bareboat interest </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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 1.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,198</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total lease commitments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>81,680</b></font></div></td>
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  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lease commitments -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,380</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lease commitments -&#160;non-current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">77,300</font></div></td>
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<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13-14)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 205<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6360339&amp;loc=d3e1361-107760<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391110&amp;loc=d3e2921-110230<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840622544">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsAbstract', window );"><strong>Advances for vessels under construction and acquisition of vessels [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForVesselsAcquisitionsTextBlock', window );">Advances for vessels under construction and acquisition of vessels:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>6.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Advances for vessels under construction and acquisition of vessels:</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none">
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    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:39px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:102px;"><div style="text-align:right;text-indent:0.0px;"><br/><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Pre-delivery yard installments </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">270,947</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">206,997</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fair value adjustment (Note 1)</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">137,923</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">86,400</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:25px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Bareboat capital leases -&#160;upfront hire and handling fees</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31,467</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">44,551</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Capitalized interest and finance costs</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10,654</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">14,636</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other capitalized costs (Note 3) &#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3,542</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">4,554</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Advances for secondhand vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">79</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Impairment charge</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(19,467</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:264px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:102px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>454,612</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:79px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>337,671</b></font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As summarized in the relevant table of Note 1, as of June 30, 2015 the Company was party to 25 newbuilding contracts for the construction of dry bulk carriers of various types, 14 of which were assumed as part of the Merger and the Pappas Transaction. &#160;As of June 30, 2015, the total aggregate remaining contracted price for the 25 newbuilding vessels plus agreed additional amounts was $577,868 (giving effect to the renegotiated prices and delivery dates of certain of the Company's newbuilding vessels disclosed in Notes 15(a) and (b)), payable in periodic installments up to their deliveries, of which $500,681 is payable during the next twelve months ending June 30, 2016 and the remaining $77,187 is payable during the twelve months ending June 30, 2017. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On February 17, 2014, the Company entered into separate bareboat charter party contracts with CSSC (Hong Kong) Shipping Company Limited, or CSSC, an affiliate of Shanghai Waigaoqiao Shipbuilding Co., Ltd. (&#147;SWS&#148;), a Chinese shipyard, to bareboat charter for ten years two fuel efficient newbuilding Newcastlemax dry bulk vessels (the 'CSSC Vessels&#148;), each with a cargo carrying capacity of 208,000 dwt. The vessels are being constructed pursuant to shipbuilding contracts entered into between two pairings of affiliates of SWS. Each pair has one shipyard party (each, an &#147;SWS Builder&#148;) and one ship-owning entity (each an &#147;SWS Owner&#148;). Delivery to the Company of each vessel is deemed to occur upon delivery of the vessel to the SWS Owner from the corresponding SWS Builder. Pursuant to the terms of the bareboat charters, the Company is required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $47,200 and $46,400, respectively, for the construction cost of each vessel, corresponding to the last pre-delivery and delivery installment to the shipyard, will be financed by the relevant SWS Owner, to whom the Company will pay a daily bareboat charter hire rate payable monthly plus a variable amount. In addition, the Company will pay an installment of $300 plus an additional amount of $669 for agreed extra costs for both vessels. In addition, the Company is also obliged to pay an amount of $936 representing handling fees in two installments. The first installment of $462 was paid upon the signing of the bareboat charters, and the second installment is due in one year. Under the terms of the bareboat charters, the Company has the option to purchase the CSSC Vessels at any time, such option being exercisable on a monthly basis against pre-determined, amortizing-during-the-charter-period prices whilst it has a respective obligation of purchasing the vessels at the expiration of the bareboat term at a purchase price of $14,160 and $13,919, respectively. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the CSSC Vessels. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In addition, following the completion of the Merger and the Pappas Transactions, the Company assumed bareboat charters with respect to five newbuilding vessels being built at SWS for subsidiaries of Oceanbulk at the time of Merger. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;On December&#160;27, 2013, subsidiaries of Oceanbulk had entered into separate bareboat charter party contracts with affiliates of SWS for ten-year bareboat charters of five newbuilding 208,000 dwt Newcastlemax vessels. The vessels are being constructed pursuant to shipbuilding contracts entered into between five pairings of affiliates of SWS. &#160;Each pair has one shipyard party (each, an &#147;SWS Builder&#148;) and one ship-owning entity (each an &#147;SWS Owner&#148;). Delivery of each vessel to the Company is deemed to occur upon delivery of the vessel to the SWS Owner from the corresponding SWS Builder. Pursuant to the terms of the bareboat charter, the Company is required to pay upfront fees, corresponding to the pre-delivery installments to the shipyard. An amount of $46,400 for the construction cost of each vessel, corresponding to the delivery installment to the shipyard, will be financed by the relevant SWS Owner, to whom the Company will pay a daily bareboat charter hire rate payable monthly plus a variable amount payable every six months and a one-time handling fee of $464. In addition, the Company will pay for the five newbuilding vessels an aggregate amount of $1,680 for agreed extra costs. After each vessel's delivery, the Company has monthly purchase options to acquire the vessel at pre-determined, amortizing-during-the-charter-period prices. At the end of the ten-year charter period for each vessel, the Company has the obligation to purchase the vessel at a purchase price of $13,919. Upon the earlier of the exercise of the purchase options or the expiration of the bareboat charters, the Company will own the five vessels.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Based on applicable accounting guidance, the Company determined that the bareboat charters with the affiliates of SWS and CSSC should be classified as capital leases. Therefore, the amount of $15,669 paid during the six months ended June 30, 2015, representing the installments for the upfront hire and handling fees of the newbuilding vessels, including for those vessel delivered during this period, has been capitalized. In addition, based on the lease agreement provisions, the Company is not deemed to bear substantially all of the construction period risk and therefore is not considered the owner of the vessels during the construction period. Therefore, each of the above bareboat charters is not considered a sales type lease and will not be accounted for as a sale and leaseback transaction upon the delivery of each newbuilding vessel to the Company, when the lease term is deemed to begin. &#160;At that time the Company will recognize the appropriate financial liability and financial asset in accordance with the applicable capital lease accounting guidance.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2015, the Company entered into a cancellation agreement with a shipyard for the cancellation of a shipbuilding contract for a newbuilding vessel, which was previously scheduled to be delivered to the Company in June 2016 under a bareboat charter agreement. Under this cancellation agreement, the Company has no obligation to compensate the shipyard or the bareboat charterer for this cancelled vessel. In connection with the respective cancellation an impairment of $3,009 was recorded, which includes a $2,500 write-off of the fair value adjustment recognized upon the Merger. (Note 1).</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2015, the Company entered into an agreement with a third party to sell one of its newbuilding vessels upon its delivery to the Company, which is expected to take place in 2016. In connection with this sale, an impairment charge of $16,458 was recorded, which includes a $11,300 write-off of the fair value adjustment recognized upon the Merger (Note 1).</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for advances paid to yards and capitalized expenses for acquisition of vessels.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867782976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtTextBlock', window );">Long-term Debt:</a></td>
<td class="text"><div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>8.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Long-term Debt:</b></font></div>
<div style="text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The table below presents outstanding amounts under the Company's bank loans and notes as of December 31, 2014 and June 30, 2015:</font></div>
<div style="text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:26px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Commerzbank $120,000 and $26,000 facilities</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">74,680</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">44,417</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Credit Agricole Corporate and Investment Bank $70,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">54,968</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">52,998</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ABN AMRO Bank N.V. $31,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12,800</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH Nordbank AG $64,500 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">29,600</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,547</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSH Nordbank AG $35,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">33,187</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31,979</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deutsche Bank AG $39,000 facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">36,660</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">35,100</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ABN $87,458 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">76,689</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">71,740</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Deutsche Bank $85,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">82,708</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">79,875</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSBC $86,600 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">83,490</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">80,380</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">CEXIM $57,360 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">HSBC $20,000 Dioriga Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">19,300</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">18,600</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">NIBC $32,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">BNP $32,480 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">32,480</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">31,406</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excel Vessel Bridge Facility </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">56,161</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DVB $24,750 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,750</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">22,950</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excel Vessel CiT Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">30,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Sinosure Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">37,366</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Citi Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">51,478</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">87,329</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Heron Vessels Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">24,567</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">21,589</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DNB $120,000 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">88,275</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">106,712</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DVB $31,000 Deep Blue Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">28,680</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">DNB-SEB-CEXIM 227,500 Facility</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">32,400</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8.00% 2019 Notes</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,000</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:392px;height:13px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:28px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>861,793</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:23px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <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:76px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>858,068</b></font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's credit facilities and debt securities are discussed in Note 9 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, except for the following:</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>a) Prepayment of the Excel Vessel Bridge Facility</b>: On January 29, 2015, the Company fully prepaid the Excel Vessel Bridge Facility.</font></div>
<div style="margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>b) DVB $31,000 Deep Blue Facility</b>: On May 21, 2015, the Company entered into an agreement with DVB Bank SE (the &#147;DVB $31,000 Deep Blue Facility&#148;) for up to $31,000 to partially finance the construction cost of <i>Deep Blue</i> (ex-HN 5017), a Capesize bulk carrier, under construction by Japan Marine United Corporation. The Company drew $28,680 in May 2015, upon the vessel's delivery to the Company. The facility will be repaid in 24 equal, consecutive, quarterly principal installments of $476.5 each, with the first become becoming due and payable three months from the drawdown date, and a balloon installment of $17,245 payable simultaneously with the 24<sup>th</sup> instalment in May 2021. The DVB $31,000 Deep Blue Facility is secured by a first priority mortgage over the financed vessel and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>c) BNP committed term sheet</b>: On March 13, 2015, the Company entered into a committed term sheet with BNP Paribas for up to $39,500 to finance two vessels, the newbuilding vessel HN5056 (tbn <i>Megalodon</i>) and the 2004-built Panamax vessel <i>Star Emily</i>.</font></div>
<div style="margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>d) DNB-SEB-CEXIM $227,500 Facility</b>: On March 31, 2015, the Company entered into an agreement with DNB Bank ASA as facility agent, security agent account bank and bookrunner, DNB Bank ASA and the Export-Import Bank of China (CEXIM) as mandated lead arrangers and DNB Bank ASA, Skandinaviska Enskilda Banken AB (SEB) and CEXIM as original lenders (the &#147;DNB-SEB-CEXIM $227,500 Facility&#148;) for up to $227,500 to partially finance the construction of seven newbuilding vessels, HN166 (tbn <i>Gargantua</i>), HN167 (tbn <i>Goliath</i>), HN1338 (tbn <i>Star Aries</i>), HN184 (tbn <i>Maharaj</i>), HN1339 (tbn <i>Star Taurus</i>), HN1342 (tbn <i>Star Gemini</i>) and HN198 (tbn <i>Star Poseidon</i>). The financing will be available in seven separate tranches, one for each newbuilding vessel. The first tranche of $32,400 was drawn in April, 2015, upon the delivery of the vessel <i>Gargantua</i> (ex-HN 166) to the Company. This tranche will be repaid in 24 equal, consecutive, quarterly principal installments of $508.4 each, with the first becoming due and payable three months from the drawdown date and a balloon installment of $20,198 payable simultaneously with the 24<sup>th</sup> instalment in April 2021. The DNB-SEB-CEXIM $227,500 Facility is secured by a first priority cross-collateralized mortgage over the financed vessels and general and specific assignments and is guaranteed by Star Bulk Carriers Corp.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>e) ABN AMRO Bank N.V. $31,000 Facility</b>: On March 31, 2015, the Company and ABN AMRO signed a third supplemental agreement and agreed to revise certain financial covenants governing this facility. In June 2015, this facility was fully repaid following the sale of the vessels <i>Star Big</i> and <i>Star Mega.</i> (Note 5)</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>f) Restructuring Agreement -&#160;Commerzbank $120,000 and $26,000 Facilities</b>: On March 30, 2015, the Company and Commerzbank AG signed a second supplemental agreement. Under the supplemental agreement, the Company agreed to (i)&#160;prepay Commerzbank AG $3,000, (ii)&#160;amend some of the financial covenants governing this facility, and (iii) change the repayment date relative to Commerzbank $26,000 tranche from September 7, 2016 to July 31, 2015. The tranche of Commerzbank $26,000 was fully repaid in June 2015.</font></div>
<div style="margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>g) Excel Vessel CiT Facility: </b>On June 10, 2015, the Company fully repaid the Excel Vessel CiT Facility.</font></div>
<div style="margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Arial;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>h) Amendment of Financial Covenants</b>: During the second quarter of 2015 the Company reached agreements with all of its lenders to amend certain financial covenants included in its loan facilities.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Under the DNB-SEB-CEXIM $227,500 Facility, the Company is not allowed to pay dividends until December 2017, if the Company's liquid funds are not greater than $200,000 or $2,000 per fleet vessel. Under its other loan agreements, the Company is not allowed to pay dividends until December 31, 2016. &#160;In any event, the Company may not pay dividends or distributions if an event of default has occurred and is continuing or would result from such dividend or distribution.</font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Furthermore, the Company's credit facilities contain financial covenants requiring the Company to maintain various financial ratios, including:</font></div>
<div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;-&#160;a minimum percentage of aggregate vessel value to loans secured;</font></div>
<div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;-&#160;a maximum ratio of total liabilities to market value adjusted total assets;</font></div>
<div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;-&#160;a minimum EBITDA to interest coverage ratio;&#160;</font></div>
<div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;-&#160;a minimum liquidity; and</font></div>
<div style="margin-left: 48.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;-&#160;a minimum equity ratio.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, not legally restricted, of $35,400 and $35,200, respectively, which is included within &#147;Cash and cash equivalents&#148; in the accompanying balance sheets. &#160;In addition, as of December 31, 2014 and June 30, 2015 the Company was required to maintain minimum liquidity, legally restricted, of $13,972 and $13,789, respectively, which is included within &#147;Restricted cash&#148; in the accompanying balance sheets. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2014 and June 30, 2015, the Company was in compliance with the applicable financial and other covenants contained in its debt agreements.</font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The principal payments required to be made after June 30, 2015, for all the then outstanding debt, are as follows:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">93,128</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">140,554</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">89,780</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">203,411</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">215,902</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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:29px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">115,293</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total (including 8% 2019 Notes)</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>858,068</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:14px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Excluding 8.00% 2019 Notes</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:double #000000 3.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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 1.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">50,000</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Long term debt</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>808,068</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt -&#160;current portion</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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:29px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">93,128</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:477px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Long term debt -&#160;non-current portion</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:36px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:29px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:93px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">714,940</font></div></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-top:12.0px;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">At June 30, 2015, 56 of the Company's owned vessels, having a net carrying value of $1,528,386, were subject to first-priority mortgages as collateral to its loan facilities. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">For the six month periods ended June 30, 2014 and 2015, the Company's existing debt agreements bore interest at a weighted-average rate of approximately 3.33% and 3.30%, respectively. &#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">All of the Company's bank loans bear interest at LIBOR plus a margin. The amounts of &#147;Interest and finance costs&#148; included in the accompanying consolidated statements of operations are analyzed as follows:</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" rowspan="2" style=" border:solid #000000 0.0px;width:417px;height:36px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="top" colspan="3" style=" border:solid #000000 0.0px;width:220px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended <br/>June 30,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>2014 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;height:12px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest on long term debt </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$3,936 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$16,991 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Less: Interest capitalized </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,252</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(6,221</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:38px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,491 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Amortization of loan expenses </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;284 </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:30px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1,199 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other bank and finance charges </font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">89</font></div></td>
    <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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">411</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:417px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Interest and finance costs</b></font></div></td>
    <td valign="middle" 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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$3,057 </b></font></div></td>
    <td valign="middle" 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:30px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:94px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$13,871 </b></font></div></td>
  </tr>
  <tr>
    <td style="width:417px;"></td>
    <td style="width:94px;"></td>
    <td style="width:30px;"></td>
    <td style="width:94px;"></td>
  </tr>
</table>
<div align="justify"><font style="font-family:Calibri;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In connection with the prepayment of the Excel Vessel Bridge Facility, the Excel Vessel CiT Facility, the ABN AMRO $31,000 Facility and the Commerzbank 26,000 Facility, $974 of unamortized deferred finance charges was written off and included under &#147;Loss on debt extinguishment&#148; in the accompanying consolidated statement of operations for the six month period ended June 30, 2015.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"></div><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711760448336">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings / Loss per Share (Table) (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
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<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income / (loss)</a></td>
<td class="num">$ (105,197)<span></span>
</td>
<td class="num">$ (3,870)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAbstract', window );"><strong>Basic earnings / (loss) per share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Weighted average common shares outstanding, basic</a></td>
<td class="nump">171,736,658<span></span>
</td>
<td class="nump">28,973,621<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic earnings (loss) per share</a></td>
<td class="num">$ (0.61)<span></span>
</td>
<td class="num">$ (0.13)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDilutedAbstract', window );"><strong>Effect of dilutive securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment', window );">Dilutive effect of non-vested shares</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Weighted average common shares outstanding, diluted</a></td>
<td class="nump">171,736,658<span></span>
</td>
<td class="nump">28,973,621<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted earnings / (loss) per share</a></td>
<td class="num">$ (0.61)<span></span>
</td>
<td class="num">$ (0.13)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract', window );"><strong>Earnings / (loss) per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Number of anti-dilutive shares</a></td>
<td class="nump">676,150<span></span>
</td>
<td class="nump">412,834<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract', window );"><strong>Earnings / (loss) per share</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Number of anti-dilutive shares</a></td>
<td class="nump">521,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Antidilution<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Diluted Earnings Per Share<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Contingent Stock Agreement<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 52<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.23)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicOtherDisclosuresAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAbstract</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=us-gaap_EmployeeStockOptionMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852710640">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans (Table) (Details) - $ / shares<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Number of shares</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Unvested at beginning of period</a></td>
<td class="nump">394,167<span></span>
</td>
<td class="nump">276,667<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted</a></td>
<td class="nump">676,150<span></span>
</td>
<td class="nump">402,167<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested</a></td>
<td class="num">(394,167)<span></span>
</td>
<td class="num">(266,000)<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Unvested at end of period</a></td>
<td class="nump">676,150<span></span>
</td>
<td class="nump">412,834<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted Average Grant Date Fair Value</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Unvested at beginning of period</a></td>
<td class="nump">$ 10.86<span></span>
</td>
<td class="nump">$ 7.46<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted</a></td>
<td class="nump">3.55<span></span>
</td>
<td class="nump">10.86<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested</a></td>
<td class="nump">10.86<span></span>
</td>
<td class="nump">7.65<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Unvested at end of period</a></td>
<td class="nump">$ 3.55<span></span>
</td>
<td class="nump">$ 10.65<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(2)(iii)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<head>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852788192">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Management fees (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="num">$ (4,063,000)<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ShipProcurementServicesS.A.Member', window );">Ship Procurement Services S.A. ("SPS")</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">3,748,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_ProcurementServicesDailyFee', window );">Procurement services daily fee</a></td>
<td class="nump">295<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember', window );">Maryville Maritime Inc.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related Party Transaction [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfessionalAndContractServicesExpense', window );">Management fees</a></td>
<td class="nump">$ 315,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_ProcurementServicesDailyFee">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The daily fee per vessel for procurement services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_ProcurementServicesDailyFee</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfessionalAndContractServicesExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfessionalAndContractServicesExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ShipProcurementServicesS.A.Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_ShipProcurementServicesS.A.Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=sblk_MaryvilleMaritimeIncMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711851732096">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Fair value measurements (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock', window );">Derivative instruments effect on statement of operations</a></td>
<td class="text"><div style="margin-left: 14.4px;text-indent:-13.3px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unaudited Condensed Consolidated Statement of Operations</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2014</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30,</b></font></div><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Gain/(loss) on derivative instruments, net</b></i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gains/(losses) from the Credit Agricole Swaps and the HSH Swaps before hedging designation (August&#160;31, 2014)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$&#160;&#160;&#160;&#160;&#160;&#160;(819)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160; &#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Unrealized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;883</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Realized gains/(losses) from the Goldman Sachs Swaps after de-designation of accounting hedging relationship (April 1, 2015)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(1,344)</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 24.0px;text-indent:-12.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Write-off of unrealized losses related to forecasted transactions which are no longer considered probable reclassified from other comprehensive income/(loss) &#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(227</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-1.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Ineffective portion of cash flow hedges&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) on derivative instruments, net</b>&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$&#160;&#160;&#160;&#160;&#160;&#160; (819)</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(688)</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Interest and finance costs</b></i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 30.0px;text-indent:-17.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other comprehensive income/(loss)&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(1,491</font></div></td><td valign="bottom"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:442px;"><div style="margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total Gains/(Losses) recognized</b>&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:97px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;(1,491)</font></div></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Fair value measurements on recurring basis</a></td>
<td class="text"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="top" colspan="4" style=" border:solid #000000 0.0px;width:375px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs (Level 2)</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" colspan="2" style=" border:solid #000000 0.0px;width:187px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="top" colspan="2" style=" border:solid #000000 0.0px;width:187px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(not designated as cash flow hedges)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>(designated as cash flow hedges)</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>ASSETS</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="top" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - asset position&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>LIABILITIES</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - liability position&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160; &#151;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160; 7,732</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;9,819</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;$&#160;&#160;&#160;&#160;&#160;&#160;1,081</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:290px;"><div style="text-align:justify;margin-left: 14.4px;text-indent:-13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b>&#160;&#160;&#160;&#160;&#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>&#151;</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:84px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>7,732</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:103px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>9,819</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:83px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;<b>$</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>1,081</b></font></div></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueDisclosuresAbstract</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5618551-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840745616">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Advances for vessels under construction and acquisition of vessels (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Total</a></td>
<td class="nump">$ 337,671<span></span>
</td>
<td class="nump">$ 454,612<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember', window );">Advances for vessels under construction and acquisition of vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AccumulatedPreDeliveryYardInstallments', window );">Pre-delivery yard installments</a></td>
<td class="nump">206,997<span></span>
</td>
<td class="nump">270,947<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AssetsFairValueAdjustmentAccumulated', window );">Fair value adjustment (Notes 1)</a></td>
<td class="nump">86,400<span></span>
</td>
<td class="nump">137,923<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AccumulatedUpfrontHireAndHandlingFees', window );">Bareboat capital leases - upfront hire &amp; handling fees</a></td>
<td class="nump">44,551<span></span>
</td>
<td class="nump">31,467<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AccumulatedCapitalizedInterestAndFinanceCosts', window );">Capitalized interest and finance costs</a></td>
<td class="nump">14,636<span></span>
</td>
<td class="nump">10,654<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_CapitalizedCostsOther', window );">Other capitalized costs (Note 3)</a></td>
<td class="nump">4,554<span></span>
</td>
<td class="nump">3,542<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AdvancesForSecondhandVessels', window );">Advances for secondhand vessels</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">79<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_AccumulatedAssetImpairmentCharges', window );">Impairment charge</a></td>
<td class="num">(19,467)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressGross', window );">Total</a></td>
<td class="nump">$ 337,671<span></span>
</td>
<td class="nump">$ 454,612<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedAssetImpairmentCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedAssetImpairmentCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedCapitalizedInterestAndFinanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated interest and finance costs as part of vessels under construction and acquisitions cost basis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedCapitalizedInterestAndFinanceCosts</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedPreDeliveryYardInstallments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of pre-delivery installments to the yard, for vessels under construction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedPreDeliveryYardInstallments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AccumulatedUpfrontHireAndHandlingFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of upfront hire &amp; handling fees for vessels under capital leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AccumulatedUpfrontHireAndHandlingFees</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AdvancesForSecondhandVessels">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Discloses the period end balance amount of advances for Secondhand vessels.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AdvancesForSecondhandVessels</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_AssetsFairValueAdjustmentAccumulated">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of addition (reduction) to the amount at which an asset could be incurred (settled) at the time of acquisition between willing parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_AssetsFairValueAdjustmentAccumulated</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_CapitalizedCostsOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated other capitalized costs for vessels under construction and acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_CapitalizedCostsOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
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<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AdvancesForVesselsUnderConstructionAndAcquisitionOfVesselsMember</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712073414000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies:</a></td>
<td class="text"><div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>13.&#160;&#160;&#160;&#160;&#160;&#160;Commitments and Contingencies:</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>a) &#160;Lease commitments</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table sets forth inflows or outflows, related to the Company's leases, as at June 30, 2015.</font></div>
<div style="text-align:justify;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style="border-collapse: collapse; border: none">
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:9px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" colspan="7" style=" border:solid #000000 0.0px;width:419px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Twelve month periods ending June 30,</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>plus inflows/ minus outflows</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2016</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2017</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2018</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2019</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2020</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>2021 and <br/>thereafter</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>Future, minimum, non-cancellable charter revenue (1) </i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$48,008</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$47,258</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$750</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><i>$ -</i></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:17px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Bareboat capital leases - upfront hire &amp; handling <br/>fees (2) </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(13,613</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(12,269)</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(1,344</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)-</font></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">-</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">Bareboat commitments charter hire (3) </font></div></td>
    <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:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(364,854</font></div></td>
    <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:51px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(4,803)</font></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(26,123</font></div></td>
    <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:56px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(27,219)</font></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(27,151</font></div></td>
    <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:56px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)(27,488)</font></td>
    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">(252,070</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; ">)&#160;</font></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>Total </b></font></div></td>
    <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:62px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($330,459)</b></font></div></td>
    <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:51px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>$30,186</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($26,717)</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($27,219)</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($27,151)</b></font></div></td>
    <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:56px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($27,488)</b></font></div></td>
    <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:78px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:10.7px;color:#000000; "><b>($252,070)</b></font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:10px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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:62px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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:51px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <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;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:9px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:62px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:51px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:56px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:78px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:14px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
  </tr>
  <tr>
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    <td valign="top" colspan="8" style=" border:solid #000000 0.0px;width:617px;height:35px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:12.0px;color:#000000; ">(2) The amounts represent the Company's commitments under the bareboat lease arrangements representing the upfront hire and handling fees for those vessels being, as of June 30, 2015, under construction. </font></div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:198px;height:4px;"><div style="text-align:justify;text-indent:0.0px;">&#160;</div></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>b) &#160;Legal proceedings</b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">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. &#160;The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. &#160;Currently, management is not aware of any such claims or contingent liabilities, for which it has not accrued for, requiring disclosure in the accompanying unaudited interim condensed consolidated financial statements.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company's vessels are covered for pollution in the amount of $1 billion of insurance per vessel per incident, by the Protection and Indemnity (P&amp;I) Association in which the Company's vessels are entered. The Company's vessels are subject to calls payable to their P&amp;I Association and may be subject to supplemental calls which are based on estimates of premium income and anticipated and paid claims. &#160;Such estimates are adjusted each year by the board of directors of the P&amp;I Association until the closing of the relevant policy year, which generally occurs within three years from the end of the policy year. &#160;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 condensed consolidated financial statements. </font></div>
<div style="text-align:justify;text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:40.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As described on Item 8 of the Company's the Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the SEC on April 8, 2015, on October 23, 2014, a purported shareholder of the Company filed a derivative and putative class action lawsuit in New York state court against the Company's Chief Executive Officer, members of its Board of Directors and several of its shareholders and related entities, and on March 4, 2015, the Company and the other defendants moved to dismiss the complaint. A judgment on the motion to dismiss is expected to be completed by October 2015. The motion is pending. &#160;All discovery deadlines have been stayed pending resolution of the motion.</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>c) &#160;Contingencies relating to Heron</b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:8.0px;line-height:1.08;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Following the completion of the Merger, Oceanbulk Shipping became a wholly owned subsidiary of the Company. Oceanbulk Shipping owned an outstanding loan receivable of $23,680 from Heron, which was convertible into 50% of Heron's equity. After the conversion of the loan, on November 5, 2014, Heron became a 50-50 joint venture between Oceanbulk Shipping and ABY Group Holding Limited, and Oceanbulk Shipping shares joint control over Heron with ABY Group Holding Limited. Based on the applicable related agreements, neither party will entirely control Heron. In addition, any operational and other decisions with respect to Heron will need to be jointly agreed between Oceanbulk Shipping and ABY Group Holding Limited. As of June 30, 2015, all vessels previously owned by Heron had been either sold or distributed to its equity holders. While Oceanbulk Shipping and ABY Group Holding Limited intend that Heron eventually will be dissolved shortly after local authorities permit, until that occurs, contingencies to the Company may arise. However, the pre-transaction investors in Heron will effectively remain as ultimate beneficial owners of Heron, until Heron is dissolved on the basis that, according to the Merger Agreement, any cash received from the final liquidation of Heron will be transferred to the Sellers. As further disclosed in Note 9 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, the Company entered into a loan agreement with CiT Finance LLC for an amount of $25,311, to finance the cash portion of the acquisition of the Heron Vessels and drew this amount in December 2014, upon the acquisition of the Heron Vessels. As of December 31, 2014 and June 30, 2015, the Company had an outstanding payable of $1,689 and 50, respectively, to the Sellers which is included under &#147;Due to related parties&#148; in the accompanying balance sheets.</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:8.0px;line-height:1.08;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711840755152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Inventories (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Inventories [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfInventoryCurrentTableTextBlock', window );">Schedule of inventories</a></td>
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<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 40.0px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30, 2015</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:12px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Lubricants</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">6,853</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,106</font></div></td>
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  <tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7,515</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,585</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:158px;height:13px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>14,368</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:103px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>16,691</b></font></div></td>
  </tr>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:111px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:18px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryDisclosureAbstract</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6361739&amp;loc=d3e7789-107766<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 2<br><br><br><br> -Paragraph 6<br><br><br><br> -Subparagraph a,b,c<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711860246288">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Vessels and Other Fixed Assets, Net - Capital leases (Table)(Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract', window );"><strong>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Lease commitments - current portion</a></td>
<td class="nump">$ 4,380<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsNoncurrent', window );">Lease commitments - non-current portion</a></td>
<td class="nump">77,300<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongtermDebtTypeAxis=us-gaap_CapitalLeaseObligationsMember', window );">Capital Lease Obligations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract', window );"><strong>Twelve month periods ending</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths', window );">June 30, 2016</a></td>
<td class="nump">8,640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo', window );">June 30, 2017</a></td>
<td class="nump">8,640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree', window );">June 30, 2018</a></td>
<td class="nump">8,640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour', window );">June 30, 2019</a></td>
<td class="nump">9,572<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive', window );">June 30, 2020</a></td>
<td class="nump">12,370<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive', window );">June 30, 2021 and thereafter</a></td>
<td class="nump">58,016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue', window );">Total capital lease minimum payments</a></td>
<td class="nump">105,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments', window );">Excluding bareboat interest</a></td>
<td class="nump">24,198<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments', window );">Total lease commitments</a></td>
<td class="nump">81,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Lease commitments - current portion</a></td>
<td class="nump">4,380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsNoncurrent', window );">Lease commitments - non-current portion</a></td>
<td class="nump">$ 77,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of capital lease obligation due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeaseObligationsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeaseObligationsNoncurrent</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due after the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingAfterYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fifth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFive</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the fourth rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearFour</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the third rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearThree</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the second rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueInRollingYearTwo</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsDueRollingMaturityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount necessary to reduce net minimum lease payments to present value for capital leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of minimum lease payments for capital leases due in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsNextRollingTwelveMonths</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of minimum lease payments for capital leases net of executory costs, including amounts paid by the lessee to the lessor for insurance, maintenance and taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesFutureMinimumPaymentsPresentValueOfNetMinimumPayments</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongtermDebtTypeAxis=us-gaap_CapitalLeaseObligationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongtermDebtTypeAxis=us-gaap_CapitalLeaseObligationsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852774704">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant accounting policies and recent accounting pronouncements (Details) - Salvage Value - USD ($)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Dec. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ChangeInAccountingEstimateLineItems', window );"><strong>Change in Accounting Estimate [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ChangeInAccountingEstimateDescription', window );">Change in Accounting Estimate, Description</a></td>
<td class="text">Effective January 1, 2015, and following management's reassessment of the residual value of the Company's vessels, the estimated scrap value per light weight tonnage was increased from $0.2 to $0.3.  The current value of $0.3 was based on the historical average demolition prices prevailing in the market.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ChangeInAccountingEstimateFinancialEffect', window );">Change in Accounting Estimate, Financial Effect</a></td>
<td class="text">The effect of this change in accounting estimate, which pursuant to Accounting Standards Codification ('ASC') "Accounting Changes and Error Corrections" was applied prospectively and did not require retrospective application, was to decrease the depreciation expense and the net loss for the six month period ended June 30, 2015, by $3,273 or $0.02 loss per basic and diluted share.<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselsSalvageValuePerLightWeightTon', window );">Vessel salvage value per LWT</a></td>
<td class="nump">$ 300<span></span>
</td>
<td class="nump">$ 200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome', window );">Effect of change in acounting estimate, decrease of charge to net income / (loss)</a></td>
<td class="nump">$ 3,273,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare', window );">Effect of change in accounting estimate, loss on basic and diluted earnings per share</a></td>
<td class="nump">$ 0.02<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the effect of a change in accounting estimate on basic and diluted earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnBasicAndDilutedEarningsPerShare</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<td>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the effect of a change in accounting estimate on net income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_NewAccountingPronouncementOrChangeInAccountingEstimateEffectOfChangeOnNetIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselsSalvageValuePerLightWeightTon">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated vessels' salvage value per lightweight ton.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Describes the specific accounting estimate that was revised, including the nature of and justification for the revision.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 270<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6372559&amp;loc=d3e777-108305<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 250<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28359718&amp;loc=d3e22595-107794<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of the effect on income from continuing operations, net income (or other appropriate captions of changes in applicable net assets or performance indicator), and any related per-share amounts of the current period when a change in accounting estimate affects several future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 250<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28359718&amp;loc=d3e22595-107794<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 270<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6372559&amp;loc=d3e777-108305<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140712007231696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Comprehensive Income / (Loss) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract', window );"><strong>Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income/ (loss):</a></td>
<td class="num">$ (105,197)<span></span>
</td>
<td class="num">$ (3,870)<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_OtherComprehensiveIncomeLossAbstract', window );"><strong>Other comprehensive loss:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss', window );">Unrealized losses from cash flow hedges during the period before reclassifications</a></td>
<td class="num">(4,827)<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax', window );">Less: Reclassification adjustments of losses from cash flow hedges included in net loss during the period</a></td>
<td class="nump">1,718<span></span>
</td>
<td class="nump">0<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax', window );">Other comprehensive loss</a></td>
<td class="num">(3,109)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTax', window );">Comprehensive income / (loss)</a></td>
<td class="num">$ (108,306)<span></span>
</td>
<td class="num">$ (3,870)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_OtherComprehensiveIncomeLossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_OtherComprehensiveIncomeLossAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</tr>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35737396<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherComprehensiveIncomeLossNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax and reclassification adjustments of other comprehensive income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669619-108580<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeLossNetOfTax</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e689-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -Subparagraph c<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=d3e41638-113959<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of unrealized gain (loss) related to the increase or decrease in fair value of interest rate derivatives designated as cash flow hedging instruments, which was recorded in accumulated other comprehensive income to the extent that the cash flow hedge was determined to be effective.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5624171-113959<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711860294512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Significant accounting policies and recent accounting pronouncements<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">Significant Accounting Policies and recent accounting pronouncements:</a></td>
<td class="text"><div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Significant accounting policies and recent accounting pronouncements:</b></font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A summary of the Company's significant accounting policies is included in Note 2 to the Company's consolidated financial statements included in the Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the SEC on April 8, 2015. There have been no changes to the Company's significant accounting policies in the six month period ended June 30, 2015, except for the following:</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessel, net: </b>Effective January&#160;1, 2015, and following management's reassessment of the residual value of the Company's vessels, the estimated scrap value per light weight tonnage was increased from $0.2 to $0.3. The current value of $0.3 was based on the historical average demolition prices prevailing in the market. The effect of this change in accounting estimate, which pursuant to Accounting Standards Codification ('ASC') 250 &#147;Accounting Changes and Error Corrections&#148; was applied prospectively and did not require retrospective application, was to decrease the depreciation expense and the net loss for the six month period ended June 30, 2015, by $3,273 or $0.02 loss per basic and diluted share. &#160;&#160;</font></div>
<div style="text-align:justify;text-indent:48.0px;"><font style="font-family:TimesNewRoman-Bold;font-size:13.3px;color:#000000; "><b>Vessels under capital lease:</b></font><font style="font-family:TimesNewRoman;font-size:13.3px;color:#000000; "> The Company has entered into certain leasing agreements for the leasing of various vessels. Leases of vessels, are classified as capital leases when they satisfy the criteria for capital lease classification under ASC 840 &#147;Leases&#148;. Capital leases are capitalized at the inception of the lease at the lower of the fair value of the leased assets and the present value of the minimum lease payments. Each lease payment is allocated between liability and finance charges to achieve a constant rate on the capital balance outstanding. The interest element of the capital cost is charged to the statement of operations and is included within "Interest and finance costs" in the consolidated statement of operations.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:TimesNewRoman;font-size:13.3px;color:#000000; ">Depreciation of vessels under capital lease is included within "Depreciation" in the consolidated statement of operations. When the ownership of a vessel is transferred at the end of the lease, or there is a bargain purchase option, the vessel is depreciated on a straight-line basis over its useful life as if the vessel was owned. Otherwise</font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> vessels under capital lease are depreciated on a straight-line basis over the term of the lease.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Share incentive plan awards -&#160;Share Options:</b>&#160;The fair value of share option grants is determined with reference to option pricing models, and depends on the terms of the granted options. The fair value is recognized (generally as compensation expense) over the requisite service period for all awards that vest. </font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Recent accounting pronouncements:</b></i></font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Simplifying the Presentation of Debt Issuance Costs</b></i>: In April&#160;2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update ('ASU') No. &#160;2015-03, <i>Interest&#151;Imputation of Interest (Subtopic 835-30) - Simplifying the Presentation of Debt Issuance Costs. </i>ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. ASU 2015-03 is effective, for public business entities, for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted. While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company's financial statements and accompanying notes.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Revenue from Contracts with Customers</b></i>: On May 28, 2014, the FASB issued ASU No. 2014-09 &#147;<i>Revenue from contracts with customers</i>&#148; with an effective date for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. On August 12, 2015, the FASB issued ASU No. 2015-14 &#147;<i>Revenue from contracts with customers</i>&#148; which defers the effective date of ASU 2014-09 for public business entities to annual reporting periods beginning after December 15, 2017, including interim reporting periods within that reporting period. Earlier application is permitted. Presently, the Company is assessing what effect the adoption of these ASUs will have on its financial statements and accompanying notes.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Technical Corrections and Improvements</b></i>: In June&#160;2015, FASB issued ASU No.&#160; 2015-10, <i>Technical Corrections and Improvements. </i>The amendments in this update cover a wide range of Topics in the ASC. The amendments in this update represent changes to make minor corrections or minor improvements to the ASC that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities. Among others, according to the requirements of the ASU, for nonrecurring measurements estimated at a date during the reporting period other than the end of the reporting period, a reporting entity shall clearly indicate that the fair value information presented is not as of the period's end as well as the date or period that the measurement was taken. Transition guidance varies based on the amendments in this update. The amendments in this update that require transition guidance are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. All other amendments will be effective upon the issuance of this update. While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company's financial statements and accompanying notes.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i><b>Simplifying the Measurement of Inventory:</b></i></font><font style="font-family:Arial;font-size:13.3px;color:#000000; "><i> </i></font><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">In July 2015, the FASB issued ASU No. 2015-11, &#147;<i>Simplifying the measurement of inventory</i>&#148;. Topic 330, Inventory, currently requires an entity to measure inventory at the lower of cost or market. Market could be replacement cost, net realizable value, or net realizable value less an approximately normal profit margin. The amendments in this update require an entity to measure inventory within the scope of this update at the lower of cost and net realizable value. &#160;For public business entities, the amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years.. The amendments in this update should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. &#160;While the Company has not yet adopted this ASU, its adoption is not expected to have a material effect on the Company's financial statements and accompanying notes.</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18861-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18726-107790<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18743-107790<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18854-107790<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711848123696">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Long-term Debt - Interest and finance costs (Table) (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract', window );"><strong>Long-term Debt [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseLongTermDebt', window );">Interest on long term debt</a></td>
<td class="nump">$ 16,991<span></span>
</td>
<td class="nump">$ 3,936<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Less: Interest capitalized</a></td>
<td class="num">(6,221)<span></span>
</td>
<td class="num">(1,252)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet', window );">Reclassification adjustments of interest rate swap loss transferred to Interest and finance costs from Other Comprehensive Income</a></td>
<td class="nump">1,491<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfFinancingCosts', window );">Amortization of loan expenses</a></td>
<td class="nump">1,199<span></span>
</td>
<td class="nump">284<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherFinancialServicesCosts', window );">Other bank and finance charges</a></td>
<td class="nump">411<span></span>
</td>
<td class="nump">89<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestAndDebtExpense', window );">Interest and finance costs</a></td>
<td class="nump">$ 13,871<span></span>
</td>
<td class="nump">$ 3,057<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestAndDebtExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest and debt related expenses associated with nonoperating financing activities of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestAndDebtExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestCostsCapitalized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest capitalized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Allowance for Funds Used during Construction<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestCostsCapitalized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseLongTermDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate amount of interest paid or due on all long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseLongTermDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net gains or losses on interest rate cash flow hedges reclassified during the period to earnings from accumulated other comprehensive income upon the hedged transaction affecting earnings.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=35706170&amp;loc=SL5624171-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LongTermDebtByCurrentAndNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherFinancialServicesCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Other financial services costs incurred during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.2(d))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherFinancialServicesCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711852775664">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Jul. 11, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis', window );">Variable portion of payment to SWS owner</a></td>
<td class="text">6-month LIBOR rate of 0.4449%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_InsuranceCoverageMaximumAmount', window );">Coverage for pollution</a></td>
<td class="nump">$ 1,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">900<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,166<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HeronVesselsIIMember', window );">Heron vessels</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Loan amount</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">25,311<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueToRelatedPartiesCurrent', window );">Due to related parties</a></td>
<td class="nump">$ 50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,689<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember', window );">Oceanbulk</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesAndLoansReceivableGrossNoncurrent', window );">Outstanding loan receivable, convertible into 50% of equity interests</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,680<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentConvertibleConversionRatio1', window );">Conversion ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0.5<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_InsuranceCoverageMaximumAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum amount of Protection and Indemnity (P&amp;I) insurance coverage for pollution, per vessel per incident.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>na</td>
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<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reference rate for the variable rate of the lessee's capital lease, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CapitalLeasesOfLesseeContingentRentalsDescriptionOfVariableRateBasis</td>
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<td>xbrli:stringItemType</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Ratio applied to the conversion of debt instrument into equity with equity shares divided by debt principal amount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 6<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Conversion Rate<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509012<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22(a)(5))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 7<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21521-112644<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentConvertibleConversionRatio1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueToRelatedPartiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(k)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 850<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (d)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 08<br><br><br><br> -Paragraph k<br><br><br><br> -Subparagraph 1<br><br><br><br> -Article 4<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueToRelatedPartiesCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesAndLoansReceivableGrossNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>An amount representing an agreement for an unconditional promise by the maker to pay the Entity (holder) a definite sum of money at a future date(s) more than one year from the balance sheet date. Such amount may include accrued interest receivable in accordance with the terms of the debt. The debt also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. This amount does not include amounts related to receivables held-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesAndLoansReceivableGrossNoncurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_HeronVesselsIIMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=sblk_OceanbulkIMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867766000">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Vessels and Other Fixed Assets, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
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<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Cost</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vessels</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,541,538</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,857,658</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Fair value adjustment </font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">100,065</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">151,588</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Other fixed assets</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,683</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">1,701</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Impairment charge</font></div></td>
    <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:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:21px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(8,282</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total cost</b></font></div></td>
    <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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,643,286</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2,002,665</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Accumulated depreciation</font></div></td>
    <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:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(201,435</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(230,001</font></div></td><td valign="middle"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)</font></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:307px;height:14px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Vessels and other fixed assets, net</b></font></div></td>
    <td valign="middle" 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:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" 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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:105px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,441,851</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border-left:solid #000000 0.0px; border-top:solid #000000 1.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
    <td valign="middle" 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:104px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1,772,664</b></font></div></td>
  </tr>
</table>
<div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFutureMinimumLeasePaymentsForCapitalLeasesTableTextBlock', window );">Principal payments</a></td>
<td class="text"><div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 33.3px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Twelve month periods ending</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Amount</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2016</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2017</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2018</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">8,640</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2019</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">9,572</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2020</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:66px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">12,370</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">June 30, 2021 and thereafter</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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:21px;"><div style="text-indent:13.3px;">&#160;</div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">58,016</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:379px;height:15px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total capital lease minimum payments</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:26px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph b<br><br><br><br> -Article 5<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711847434672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Basis of Presentation and General Information - Vessel Under Commercial and Technical Management (Table) (Details)<br></strong></div></th>
<th class="th" colspan="2">6 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jun. 30, 2015</div></th>
<th class="th"><div>Jun. 30, 2014</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember', window );">Kymopolia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">176,990<span></span>
</td>
<td class="nump">176,990<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">2006<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">January 30, 2014<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ObelixIMember', window );">Obelix</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">181,433<span></span>
</td>
<td class="nump">181,433<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
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<td class="text">2011<span></span>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">October 19, 2012<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember', window );">Pantagruel</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">180,181<span></span>
</td>
<td class="nump">180,181<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">2004<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">October 24, 2013<span></span>
</td>
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<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember', window );">Big Bang</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">174,109<span></span>
</td>
<td class="nump">174,109<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2007<span></span>
</td>
<td class="text">2007<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">August 30, 2013<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember', window );">Big Fish</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">177,643<span></span>
</td>
<td class="nump">177,662<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2004<span></span>
</td>
<td class="text">2004<span></span>
</td>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">October 18, 2013<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember', window );">Madredeus</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">98,681<span></span>
</td>
<td class="nump">98,681<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">2011<span></span>
</td>
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<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">February 4, 2014<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember', window );">Amami</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">98,681<span></span>
</td>
<td class="nump">98,681<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2011<span></span>
</td>
<td class="text">2011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">February 4, 2014<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PendulumIMember', window );">Pendulum</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">82,619<span></span>
</td>
<td class="nump">82,619<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">2006<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">February 17, 2014<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MercurialVirgoIMember', window );">Mercurial Virgo</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">81,545<span></span>
</td>
<td class="nump">81,545<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2013<span></span>
</td>
<td class="text">2011<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">February 17, 2014<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_RenascentiaMember', window );">Renascentia</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74,732<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">June 20, 2013<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MartoMember', window );">Marto</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74,470<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2001<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">August 2, 2013<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_StrangeAttractorIMember', window );">Strange Attractor</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">55,742<span></span>
</td>
<td class="nump">55,742<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2006<span></span>
</td>
<td class="text">2006<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">September 24, 2013<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MaidenVoyageIMember', window );">Maiden Voyage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="nump">58,722<span></span>
</td>
<td class="nump">58,722<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">2012<span></span>
</td>
<td class="text">2012<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">September 28, 2012<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_SerenityIMember', window );">Serenity I</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Vessels [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselCapacity', window );">DWT</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">53,688<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_VesselYearBuilt', window );">Year Built</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">2006<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_sblk_EffectiveDateManagementAgreement', window );">Effective Date of Management Agreement</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">June 11, 2011<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_EffectiveDateManagementAgreement">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The element refers to the effective date of management agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_EffectiveDateManagementAgreement</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The vessel's capacity in deadweight tonnage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_sblk_VesselYearBuilt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The year that the vessel was built.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">sblk_VesselYearBuilt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>sblk_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_KymopoliaIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ObelixIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_ObelixIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_PantagruelIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigBangIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_BigFishIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_MadredeusIMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=sblk_AmamiIMember">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm140711867775632">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity Incentive Plans<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Jun. 30, 2015</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Equity Incentive Plans [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Equity Incentive Plans</a></td>
<td class="text"><div style="margin-top:12.0px;margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>12.</b>&#160;&#160;&#160;&#160;&#160;&#160;<b>Equity Incentive Plans:</b></font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Details of the Company's 2013 and 2014 Equity Incentive Plans and share awards granted up to December 31, 2014 are discussed in Note 14 of the Company's consolidated financial statements for the year ended December 31, 2014, included in the Company's annual report on Form 20-F, filed with the SEC on April&#160;8, 2015.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:53.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 13, 2015 the Company's Board of Directors adopted the 2015 Equity Incentive Plan and reserved for issuance 1,400,000 common shares thereunder. In addition, on the same date, 676,150 restricted common shares were granted to certain directors, former directors, officers and employees, which will vest on April 13, 2016. The fair value of each restricted share was $3.55, which was determined by reference to the closing price of the Company's common shares on the grant date. </font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:53.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">On April 13, 2015, the Company's Board of Directors also added share options to the Company's executive compensation strategy in order to attract and retain executives and to motivate them to execute the Company's business plan. On the same date, the Board of Directors granted share purchase options of up to 521,250 common shares to certain executive officers, at an option exercise price of $5.50 per share. These options are exercisable in whole or in part between the third and the fifth anniversary of the grant date, subject to the respective individuals remaining employed by the Company at the time the options are exercised. &#160;</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:53.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The fair value of all share option awards was calculated based on the modified Black-Scholes method. A description of the significant assumptions used to estimate the fair value of the share option awards is set out below:</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Option type:</i> Bermudan call option</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Grant Date: </i>April 13, 2015 </font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Expected term:</i>&#160;Given the absence of expected dividend payments (discussed below), the Company expects that it is optimal for the holders of the granted options to avoid early exercise of the options. As a result, the Company assumes that the expected term of the options is their contractual term (i.e. five years from the grant date). </font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Expected volatility:</i>&#160;The Company used the historical volatility of the common shares to estimate the volatility of the price of the shares underlying the share option awards. The final expected volatility estimate, which is based on historical volatility for the two years preceding the grant date, was 59.274%.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Expected dividends:</i>&#160;The Company does not currently pay any dividends to its shareholders, and the Company's loan agreements contain restrictions and limitations on dividend payments. Based on the foregoing, the outstanding newbuilding orderbook of the Company and the market conditions prevailing currently in the dry bulk industry, the Company's management determined for purposes of this calculation that the Company is not expected to pay dividends before the expiration of the share options.</font></div>
<div style="text-align:justify;margin-left: 48.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Dilution adjustment: </i>Compared to the number of common shares outstanding, the Company's management considers the overall number of shares covered by the options as immaterial, so no dilution adjustment was incorporated in the valuation model.</font></div>
<div style="text-align:justify;margin-left: 48.0px;margin-bottom:6.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><i>- Risk-free rate:</i>&#160;The Company has elected to employ the risk-free yield-to-maturity rate to match the expected term of the options (which as explained above is five years from the grant date). As of the grant date, the yield-to-maturity rate of five-year U.S. Government bonds was approximately 1.3%.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">All non vested shares and options vest according to the terms and conditions of the applicable agreements with the Company. The grantee does not have the right to vote the non-vested shares or exercise any right as a shareholder of the non-vested shares, although the issued and non-vested shares pay dividends as declared. &#160;The dividends with respect to these shares are forfeitable. Share options have no voting or other shareholder rights.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company currently expects that there will be no forfeitures of non-vested shares or options. &#160;The shares which are issued in accordance with the terms of the Company's equity incentive plans or awards remain restricted until they vest. &#160;For the six month periods ended June 30, 2014 and 2015, total share based compensation cost was $1,903 and $1,407, respectively, and is included under &#147;General and administrative expenses&#148; in the accompanying unaudited interim condensed consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-bottom:6.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">A summary of the status of the Company's non-vested share options and restricted shares as of June 30, 2015 and the movement during the six month periods ended June 30, 2014 and 2015, respectively, is presented below.</font></div>
<div style="margin-bottom:12.0px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:253px;height:11px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:58px;"><div style="text-indent:0.0px;">&#160;</div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <td valign="bottom" style=" border:solid #000000 0.0px;width:98px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:34px;"><div style="text-indent:0.0px;">&#160;</div></td>
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    <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;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;">&#160;</div></td>
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    <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:253px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Options</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:54px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
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  <tr>
    <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:253px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Outstanding at January 1, 2015</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:58px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:54px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;- &#160;&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:11px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;521,250 </font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">5.5</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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:54px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;1.4121 </font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:253px;height:12px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Outstanding as of June 30, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" 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:58px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>521,250</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" 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:98px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>5.5</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div><div style="text-indent:0.0px;"></div></td>
    <td valign="middle" 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:54px;"><div style="text-indent:0.0px;text-align:right"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>1.4121</b></font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:253px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:58px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:54px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
</table>
<div><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 34.7px;pt;border-collapse: collapse; border: none">
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:38px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Number of shares</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Weighted Average Grant Date Fair Value</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>&#160;</b></font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">276,667</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7.46</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">402,167</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(266,000</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">7.65</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2014</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">412,834</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.65</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:87px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:43px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:67px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:17px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:21px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="bottom" style=" border:solid #000000 0.0px;width:87px;"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at January 1, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">394,167</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.86</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:12px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Granted</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">676,150</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3.55</font></div></td>
  </tr>
  <tr>
    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Vested</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <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:67px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">(394,167</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">)&#160;</font></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">10.86</font></div></td>
  </tr>
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    <td valign="middle" style=" border:solid #000000 0.0px;width:364px;height:13px;"><div style="text-indent:13.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Unvested as at June 30, 2015</b></font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:43px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div></td>
    <td valign="middle" 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;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">676,150</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:17px;"><div style="text-align:right;text-indent:0.0px;">&#160;</div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:21px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
    <td valign="middle" style=" border:solid #000000 0.0px;width:87px;"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">3.55</font></div></td>
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<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The estimated compensation cost relating to non-vested share option and restricted share awards not yet recognized was $704 and $1,884, respectively, as of June 30, 2015 and is expected to be recognized over the weighted average period of 4.79 years and 0.79 years, respectively.</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">&#160;</font></div>
<div style="text-align:justify;margin-bottom:12.0px;text-indent:48.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000;">&#160;</font></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6406099&amp;loc=d3e25284-112666<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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